"Oaktree Capital Management Launches $2.35 Billion Direct Lending Fund with Kirkland & Ellis Advisory"

"Kirkland & Ellis has advised Oaktree Capital Management on the launch of the Oaktree Direct Lending Evergreen Fund, which has secured approximately $2.35 billion in committed capital, mainly from global insurance companies. The fund will focus on senior secured loans to middle-market U.S. borrowers, with some lending to larger and non-sponsor-backed borrowers in the U.S. and Europe."

Kirkland & Ellis advised Oaktree Capital Management, L.P. in the launch of the Oaktree Direct Lending Evergreen Fund, L.P. (ODLE). The transaction involved the establishment of an evergreen senior direct lending strategy aimed at institutional clients, with ODLE completing its first close at approximately $2.35 billion in committed capital, primarily sourced from a diverse array of global insurance companies. The fund will focus on making senior secured loans to sponsor-backed, middle-market U.S. borrowers, while selectively extending loans to large-cap and non-sponsor-backed borrowers in the U.S. and Europe on a first-lien, senior secured basis. The Kirkland team included investment funds lawyers Katrina Rowe, Lindsay Trapp, and Erica Berthou.

"Oaktree Capital Management Launches $2.35 Billion Direct Lending Fund with Kirkland & Ellis Advisory"

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