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Oaktree Capital: £200m Acquisition of Close Brothers Asset Management From Close Brothers

Close Brothers Group plc has agreed to sell its asset management arm, Close Brothers Asset Management (CBAM), to Oaktree Capital Management for £200 million in cash.

Close Brothers Group plc is a UK merchant banking group which provides lending, takes deposits, manages wealth and trades in securities. PHOTO: Shutterstock
Close Brothers Group plc is a UK merchant banking group which provides lending, takes deposits, manages wealth and trades in securities. PHOTO: Shutterstock

This strategic move, set to finalize in the second quarter of 2023 pending regulatory approvals, marks a significant expansion for Oaktree into the UK and European markets.

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