Oaktree Capital Group, LLC Announces Pricing of Public Offering of Class A Units

LOS ANGELES--(BUSINESS WIRE)--

Oaktree Capital Group, LLC OAK (“Oaktree”) today announced the pricing of its previously announced public offering of 5,000,000 Class A units for expected approximate gross proceeds of $300 million before underwriting discounts and commissions and estimated offering expenses payable by Oaktree. BofA Merrill Lynch will act as underwriter for the offering. In addition, the underwriter has been granted a 30-day option to purchase up to an additional 750,000 Class A units to cover overallotments. Oaktree intends to use the net proceeds from the offering to acquire interests in its business from certain of its directors, employees and other investors, including certain Principals and other members of its senior management. Accordingly, Oaktree will not retain any proceeds from the sale of Class A units in the offering. The offering is expected to close on March 10, 2014, subject to customary closing conditions.

The offering will be made under Oaktree's effective Registration Statement on Form S-3 filed with the U.S. Securities and Exchange Commission (the “SEC”).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering will be made only by means of a prospectus supplement and an accompanying prospectus, copies of which may be obtained by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email dg.prospectus_requests@baml.com.

Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which reflect Oaktree's current views with respect to, among other things, the anticipated amount and terms of the offering and whether the offering will be completed. Forward-looking statements contained in this press release speak only as of the date of this press release. Except as required by law, Oaktree does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.