Source : TODAY, Tuesday, September 18, 2007
Los Angeles-based investment firm Oaktree Capital Management will buy Singapore-based Pangaea Capital Management to lead its real estate efforts in Asia.
Financial terms of the deal were not disclosed.
Pangaea has 25 employees and has been investing in Asia for over 20 years, Oaktree said.
Oaktree and its affiliates have about US$50 billion ($76 billion) in assets under management.
The acquisition is expected to close by the end of the month.— DOW JONES
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