B. Riley Financial to establish partnership with Oaktree in Great American Group Businesses
10/14/24, 11:08 AM
Industry
financial services
B. Riley Financial, Inc. and funds managed by Oaktree Capital Management, L.P. have signed a definitive agreement to establish a partnership in Great American Holdings, LLC. The transaction involves internal reorganization and a contribution of interests by B. Riley to Great American NewCo, with B. Riley receiving total consideration of approximately $203 million in cash, Class B Preferred Units, and Class A Common Units. The transaction is expected to close in the fourth quarter of 2024.
Company Info
Company info
Oaktree is a leader among global investment managers specializing in alternative investments, with $158 billion in assets under management as of September 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.