Oaktree Seeks $2.5 Billion for Seventh Power Opportunities Fund

Oaktree Capital Managementis seeking to raise $2.5 billion for the latest vintage of its Power Opportunities fund, according to a person with knowledge of the matter.

The Los Angeles-based investment fund is targeting a first close for the vintage in the third quarter of this year, the person said, who asked not to be identified discussing confidential matters. Michael Cardito is among portfolio managers that will oversee the fund, the person said.

Oaktree Power Opportunities Fund VII is the latest iteration of a strategy that targets investments across North America and Europe in electric power, natural gas, water and ...