Market Overview

Oaktree Capital Group, LLC Announces Pricing of Public Offering of Series B Preferred Units


Oaktree Capital Group, LLC (NYSE:OAK) ("Oaktree") today announced the
pricing of a $235 million offering of 9,400,000 of its 6.550% Series B
Preferred units representing limited liability company interests with a
liquidation preference of $25.00 per unit. In addition, Oaktree has
granted the underwriters an option to purchase up to an additional
1,410,000 Series B Preferred units solely to cover over-allotments. The
offering is expected to close on August 9, 2018, subject to the
satisfaction of 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").

Oaktree intends to use the net proceeds from the sale of the Series B
Preferred units for general corporate purposes, including to fund

Distributions on the Series B Preferred units, when, as and if declared
by the board of directors of Oaktree, will be paid quarterly and are

Oaktree intends to apply to list the Series B Preferred units on the
NYSE under the ticker symbol "OAK PR B".

Morgan Stanley & Co. LLC, BofA Merrill Lynch, UBS Securities LLC, Wells
Fargo Securities, LLC and RBC Capital Markets, LLC are acting as joint
book-running managers for the offering.

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 the
Series B Preferred units 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 (1) Morgan Stanley & Co. LLC, at 180 Varick Street, New York,
NY 10014 Attention: Prospectus Department, (2) Merrill Lynch, Pierce,
Fenner & Smith Incorporated, at NC1-004-03-43, 200 North College Street,
3rd floor, Charlotte NC 28255-0001 Attention: Prospectus Department,
(3) UBS Securities LLC, at 1285 Avenue of the Americas, New York, New
York 10019, Attention: Prospectus Specialist or by phone at
1-888-827-7275, (4) Wells Fargo Securities, LLC, at 608 2nd Avenue
South, Suite 1000, Minneapolis, Minnesota 55402 Attention: WFS Customer
Service (Toll-Free: 1-800-645-3751 or email:
and (5) RBC Capital Markets, LLC, at 200 Vesey Street, 8th floor, New
York, New York 10281 Attention: DCM Transaction Management or by phone
at 1-866-375-6829.

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, 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.

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