The Los Angeles-based alternatives investment manager Oaktree Capital Group has opened its first Australian office in Sydney and appointed Bryon Beath to lead the effort.
Beath joins as managing director responsible for leading Oaktree’s investment activities in the country after spending close to fifteen years with Macquarie Bank. His most recent position at the Australian bank was that of a director in the corporate and asset finance division.
“Opening an office in Sydney will better enable Oaktree to create and seize investment opportunities across Australia and New Zealand,” said Beath in a statement. “A local presence, coupled with Oaktree’s extensive global network and deep knowledge across industries, ideally positions us to capitalize on the growing number of opportunities within the region.”
Matt Wilson, managing director and co-portfolio manager of Oaktree’s global principal group, added: “Oaktree has strong relationships and a long history of investing in Australia and New Zealand. Establishing an office in Sydney was the logical next step in increasing its exposure in the region. We are excited to have Bryon on board to lead our efforts and are proud to formalize our presence here.”
Globally, Oaktree typically invests in opportunistic credit and distressed deals. According to news reports published in November last year, the firm has been seeking more joint venture deals in China and elsewhere in Asia in anticipation of more defaults amid a slowing economy.
The Sydney office adds to Oaktree’s growing Asia footprint. The firm also has offices in Beijing, Hong Kong, Seoul, Singapore, Shanghai and Tokyo.