Oaktree Capital Management

Seres Therapeutics Announces VOWST™ Commercial Launch Update and US FDA Fast Track Designation for SER-155

Retrieved on: 
Tuesday, January 9, 2024
FDA, Infectious Diseases, Health, Stem Cells, Clinical Trials, Clostridioides difficile infection, Graft-versus-host disease, Patient, Therapy, Incidence, Growth, Oaktree Capital Management, Medicare, Spore, Commercial, HCP, Clostridioides, Risk, Recurrence, Variometer, Immunodeficiency, Investment, CDI, Conference, Drug development, Medicare Part D, Fast track (FDA), Term loan, David Berry (inventor), Infection, Education, Pharmaceutical industry

“In 2023, VOWST received FDA approval with a broad indication, which includes use in first recurrence patients.

Key Points: 
  • “In 2023, VOWST received FDA approval with a broad indication, which includes use in first recurrence patients.
  • The SER-155 Cohort-2 readout is expected in the third quarter, and we are excited to announce receipt of Fast Track Designation for SER-155 to reduce the risk of infection and GvHD in allo-HSCT patients.
  • Production of VOWST commercial supply enabled a strong commercial launch within weeks of approval; progress in expansion of VOWST manufacturing capacity.
  • To report SUSPECTED ADVERSE REACTIONS, contact Aimmune Therapeutics at 1-833-AIM-2KNO (1-833-246-2566), or the FDA at 1-800-FDA-1088, or visit www.fda.gov/MedWatch .

OTG Announces Strategic Growth Plan to Effectuate Transaction with Investor Consortium and Leadership Transition

Retrieved on: 
Friday, January 5, 2024
Consortium, Airport, Transport, Oaktree Capital Management, Centerbridge Partners, Rail transport by country, London City Airport, Food, Port, General counsel, JetBlue, Growth, Commissioner, DAA (Irish company), Aviation, OTG, Renewable energy

NEW YORK, Jan. 5, 2024 /PRNewswire/ -- OTG ("OTG" or the "Company"), the hospitality group responsible for transforming the airport dining experience across the country, today announced that it has launched a series of initiatives to position the business for long-term growth and stability. The Company is working collaboratively with a private investor consortium (the "Investor Consortium") led by funds managed by Oaktree Capital Management, L.P. ("Oaktree") and Centerbridge Partners, L.P. ("Centerbridge"), to effectuate a transaction, under which the Investor Consortium will acquire OTG. The Investor Consortium also includes Sculptor Capital L.P., CPPIB Credit Investments III Inc., and Oak Hill Advisors, L.P.

Key Points: 
  • The Company is working collaboratively with a private investor consortium (the "Investor Consortium") led by funds managed by Oaktree Capital Management, L.P. ("Oaktree") and Centerbridge Partners, L.P. ("Centerbridge"), to effectuate a transaction, under which the Investor Consortium will acquire OTG.
  • The Investor Consortium also includes Sculptor Capital L.P., CPPIB Credit Investments III Inc., and Oak Hill Advisors, L.P.
    At closing of the transaction, the Investor Consortium intends to name Tom Fricke as Chairman of the Board of Directors and interim CEO.
  • To help advance the Company's growth plan, the Investor Consortium will provide the Company with new financing to support continued innovation, ongoing airport infrastructure investment, and geographic expansion.
  • The Investor Consortium first partnered with OTG in October 2021 to provide OTG with capital to fuel its growth.

Pinstripes Completes Business Combination with Banyan Acquisition Corporation and Will Begin Trading on New York Stock Exchange

Retrieved on: 
Friday, December 29, 2023
Entertainment, Retail, Other Entertainment, Restaurant, Bar, General Entertainment, Food, Beverage, 8-K, Partnership, Business analyst, Business, Oaktree Capital Management, Bell, LLP, Roth Capital Partners, White, William Blair & Company, Growth, L.L.C, DLA Piper, Security (finance)

Pursuant to the Business Combination, Pinstripes has become a wholly-owned subsidiary of Banyan, which has changed its name to Pinstripes Holdings, Inc. (together with Pinstripes, Inc, “Pinstripes”).

Key Points: 
  • Pursuant to the Business Combination, Pinstripes has become a wholly-owned subsidiary of Banyan, which has changed its name to Pinstripes Holdings, Inc. (together with Pinstripes, Inc, “Pinstripes”).
  • Pinstripes’ Class A common stock and warrants will begin trading on NYSE under the ticker symbols “PNST” and “PNST WS,” respectively, on January 2, 2024.
  • In connection with the Business Combination, Pinstripes has raised more than $70 million in gross proceeds to support the Company’s strategic growth plans and the opening of additional locations.
  • Completing our business combination with Banyan and introducing Pinstripes to the public markets is a tremendous achievement and the next chapter in our business journey,” said Mr. Schwartz.

Battalion Oil Corporation Announces Acquisition By Fury Resources, Inc.

Retrieved on: 
Friday, December 15, 2023
Plan, Delaware Basin, Sale, Jefferies Group, Oaktree Capital Management, Battalion, LLP, Acquisition, Common stock, Pleasure, Parent

The transaction is expected to close in the first quarter of 2024, subject to various closing conditions.

Key Points: 
  • The transaction is expected to close in the first quarter of 2024, subject to various closing conditions.
  • Such conditions include customary closing conditions, such as the approval of Battalion’s stockholders.
  • For Battalion, Houlihan Lokey Capital, Inc. acted as financial advisor and Mayer Brown LLP is acting as legal counsel.
  • The acquisition of Battalion represents a return to the Delaware Basin for our team, which now includes Battalion’s former CEO Richard Little.

KKCG Reaches Agreement to Acquire Global Technology Platform Avenga from Oaktree and Cornerstone

Retrieved on: 
Friday, December 15, 2023
Workforce, Culture, Partnership, Sale, Oaktree Capital Management, Acquisition, Engineering, Growth, Investment, Environment, Cryptocurrency

PRAGUE, Czech Republic, Dec. 15, 2023 (GLOBE NEWSWIRE) -- KKCG, a leading European investment and innovation group, today announces its agreement to acquire Avenga, an end-to-end software engineering and consulting platform from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and funds managed by Cornerstone Investment Management, L.P. (“Cornerstone”).

Key Points: 
  • PRAGUE, Czech Republic, Dec. 15, 2023 (GLOBE NEWSWIRE) -- KKCG, a leading European investment and innovation group, today announces its agreement to acquire Avenga, an end-to-end software engineering and consulting platform from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and funds managed by Cornerstone Investment Management, L.P. (“Cornerstone”).
  • The company is focused on digital transformation and custom software development and employs over 3,800 highly skilled professionals with a significant global delivery footprint.
  • Michal Tománek, Investment Director at KKCG, said: “Today marks a significant stride in our journey to grow KKCG’s IT pillar into a global tech and consultancy platform.
  • KKCG has the possibility to chart a new future for Avenga, brimming with innovation, adaptability, and unparalleled technological advancements.”
    Oaktree and Cornerstone were advised by Citigroup Global Markets Europe AG (“Citi”) acting as exclusive financial adviser.

TPI Composites, Inc. Announces Refinancing Transaction with Oaktree, Significantly Strengthening Company’s Liquidity Position and Enhancing Financial Flexibility

Retrieved on: 
Thursday, December 14, 2023
Oliver Cromwell, Senior, Agreement, Oaktree Capital Management, Wind, Pearson Yachts, Lazard, Sullivan & Cromwell, Growth, Security (finance), TPI

SCOTTSDALE, Ariz., Dec. 14, 2023 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC) (“TPI” or “the Company”) announced today that it has entered into a binding agreement (the “Agreement”) with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to refinance Oaktree’s outstanding Series A Preferred Stock holdings in the Company. The refinancing closed concurrently with the execution of the Agreement.

Key Points: 
  • The refinancing closed concurrently with the execution of the Agreement.
  • Including Oaktree’s existing common equity position in TPI, Oaktree holds 9.9% of TPI’s common equity on a pro forma basis.
  • In connection with this refinancing, the maturity of the term loan was extended to March 31, 2027, from November 22, 2026, the optional redemption date for the Series A Preferred Stock.
  • Goodwin Procter LLP acted as TPI’s legal advisor and Sullivan & Cromwell LLP acted as Oaktree’s legal advisor.

BioXcel Therapeutics Aligns with FDA Recommendation for Phase 3 Trial for TRANQUILITY Program, Provides Update on Strategic Financing, and Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 14, 2023
Webcast, Schizophrenia, DSM-IV codes, Safety, Therapy, Ageing, Conference call, Qatar Investment Authority, Investment, Administration, Patient, Research, Orange Book, FDA, Artificial intelligence, Prostate cancer, Documentation, Agitation, Dementia, Partnership, Oaktree Capital Management, Adenocarcinoma, Shanda, R, Research and development, Medicare, Government, Fine chemical, Pharmaceutical industry, Health insurance, Conference

In addition, the Company provided an update on strategic financing activities that would enable greater operational flexibility and reported its financial results for the third quarter ended Sept. 30, 2023.

Key Points: 
  • In addition, the Company provided an update on strategic financing activities that would enable greater operational flexibility and reported its financial results for the third quarter ended Sept. 30, 2023.
  • Company aligned with FDA’s recommendation to conduct additional Phase 3 trial of BXCL501 to evaluate safety and collect additional efficacy data in at-home setting.
  • Completed meeting with FDA on November 8, 2023; meeting minutes expected by the first half of December 2023.
  • ET to provide an update on recent operational highlights and to discuss its third quarter 2023 financial results.

U.S. District Court for the Southern District of New York Rules That Certain Closed-End Funds, Including Funds Advised by BlackRock, Violated the Investment Company Act of 1940

Retrieved on: 
Thursday, December 7, 2023
Professional Services, Finance, ISS, Annual general meeting, NYSE, NTG, Nuveen, FSCO, TTP, RGT, TEAF, BlackRock, ECAT, Boaz Weinstein, District court, Franklin Templeton Investments, Eaton Vance, NDP, ADX, Oaktree Capital Management, Court, Royce Investment Partners, Security (finance), Trustee

Saba filed its lawsuit in the Court on June 29, 2023 after the BlackRock trustees disclosed they would strip shareholders’ votes, in violation of the Investment Company Act of 1940 (the “ICA”), at their 2023 Annual Meeting.

Key Points: 
  • Saba filed its lawsuit in the Court on June 29, 2023 after the BlackRock trustees disclosed they would strip shareholders’ votes, in violation of the Investment Company Act of 1940 (the “ICA”), at their 2023 Annual Meeting.
  • Despite the Funds filing various motions to dismiss the lawsuit, the Court ruled in favor of Saba, finding that the actions of the BlackRock Fund and its trustees violated federal law.
  • Just last week, the U.S. Court of Appeals for the Second Circuit upheld that certain Nuveen-advised closed-end funds also violated the ICA after Saba sued Nuveen and the trustees in the Court.
  • Royce Global Value Trust is managed by Royce Investment Partners, an affiliate of Franklin Templeton.

Cordillera Appoints Zankhna Vasha as Chief Financial Officer

Retrieved on: 
Tuesday, December 5, 2023
Banking, Asset Management, Professional Services, Finance, Loyola Marymount University, Silicon Valley Bank, CFO, University of Mumbai, Silicon, Commerce, History, Culture, MBA, University, Oaktree Capital Management, Virtus Investment Partners, Security (finance)

Cordillera Investment Partners (“Cordillera”), an investment management firm that exclusively invests in niche, non-correlated assets, today announced that Zankhna Vasha has joined as Chief Financial Officer (“CFO”), effective December 1, 2023.

Key Points: 
  • Cordillera Investment Partners (“Cordillera”), an investment management firm that exclusively invests in niche, non-correlated assets, today announced that Zankhna Vasha has joined as Chief Financial Officer (“CFO”), effective December 1, 2023.
  • Ms. Vasha is based in San Francisco, where Cordillera is headquartered, and reports directly to the firm’s three co-managing partners Agustin ‘Gus’ Araya, Chris Heller and Ashley Marks.
  • “We are excited to welcome Zankhna to Cordillera.
  • “Zankhna brings a proven track record of financial leadership and strategic acumen, which aligns with our company’s vision and growth ambitions.

U.S. Court of Appeals for the Second Circuit Upholds that Nuveen-Advised Closed-End Funds Violated the Investment Company Act of 1940

Retrieved on: 
Friday, December 1, 2023
Finance, Consulting, Banking, Professional Services, Asset Management, NYSE, JSD, Policy, JRO, Appellate court, Amendment, Boaz Weinstein, Trustee, JGH, NSL, District court, Person, Judgement, JFR, Oaktree Capital Management, Financial adviser, Security (finance), Nuveen

The District Court subsequently issued a summary judgment ruling in favor of Saba and invalidated the actions of Nuveen and the Funds’ trustees.

Key Points: 
  • The District Court subsequently issued a summary judgment ruling in favor of Saba and invalidated the actions of Nuveen and the Funds’ trustees.
  • The Court’s decision on November 30, 2023, upholds the District Court’s ruling that Nuveen’s practice of vote stripping is unlawful.
  • Boaz Weinstein, Founder and Chief Investment Officer of Saba, commented:
    “Federal law is unambiguous in the protections it provides shareholders.
  • These Funds’ trustees, who are clearly unfit to serve as fiduciaries, should resign immediately and never again serve on boards.