Brookfield Oaktree Holdings LLC‘s (NYSE:OAK)Oaktree Capital Management saw redemption requests in its private credit fund drop by nearly half in the second quarter.
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The Oaktree Strategic Credit Fund received withdrawal requests equal to 4.5% of its assets, remaining under its 5% threshold, compared with 8.5% in the first quarter, a period during which Brookfield Corp. provided $80 million to help fund redemption requests, Bloomberg reported.
As a result, the approximately $7 billion vehicle processed all investor redemption requests without restrictions.
"In the current market environment, we believe investors are becoming more selective in evaluating managers and portfolios," the Oaktree fund told shareholders. The firm said investors are increasingly prioritizing managers with proven underwriting expertise and a track record of managing through changing market conditions.
