Brookfield Agrees to Buy a 62% Stake in Oaktree Capital

The transcript discusses the merger between Oaktree and Brookfield, highlighting the benefits of combining a credit distressed fund with a real estate specialist. The merger creates a diversified business, positioning them as a formidable competitor to Blackstone. Despite being a late cycle move, the firms are optimistic about future opportunities. They plan to operate independently while benefiting from potential synergies, though cost-cutting is not the primary motivation.

What are the potential benefits of operating the two companies independently?

What motivations are behind Brookfield's interest in acquiring a credit business?