Recent IPO Oaktree Capital Continues Trading Below $43 Pricing

The world's largest investor in distressed-debt, Oaktree Capital

, continues to disappoint Carlyle Group's IPO division. Carlyle Group's IPO roadshow begins next week, but private firms like Oaktree Capital have not found a large amount of investor interest. There is also waning overall interest in IPOs, with one issuance delayed this week (Aleris) and another one pulled altogether (BrightSource Energy). OakTree Capital barely made it through, pricing at the bottom end of its estimated pricing range. Indeed, Jim Cramer of CNBC

that Oaktree Capital's IPO should have been pulled altogether. Oaktree Capital opened for trading $2 below its $43 pricing, and lost as much as 6% in intraday trading since that time. At last check, the IPO was trading around $42- still below the $43 mark. The firm is based in Los Angeles and was founded by Howard Marks and Bruce Karsh. The IPO raised $380.2 million in its IPO, or about a quarter less than what was hoped for the offering. Among other concerns about the broad market, Bloomberg reports that Carlyle Group

if Oaktree Capital continues to underperform.