Oaktree Capital Management

Atalaya Closes Eighth Special Opportunities Fund at $1.8 billion Hard Cap

Retrieved on: 
Tuesday, January 31, 2023
Other Professional Services, Professional Services, Finance, Investment, Oaktree Capital Management, Atalaya, News, Security (finance)

Atalaya Capital Management (“Atalaya”), a leading investment management firm focused on asset-based private debt and special opportunities, announced the completion of fundraising for its eighth Special Opportunities Fund (“ASOF VIII”).

Key Points: 
  • Atalaya Capital Management (“Atalaya”), a leading investment management firm focused on asset-based private debt and special opportunities, announced the completion of fundraising for its eighth Special Opportunities Fund (“ASOF VIII”).
  • The oversubscribed fund closed with $1.8 billion of commitments given significant support from both new and existing partnerships with investors.
  • These partners include public and corporate pensions, endowments, foundations, healthcare systems, sovereign wealth plans and high net worth individuals.
  • Atalaya believes ASOF is well-positioned to capitalize on attractive opportunities across its three principal asset classes: specialty finance, corporate and real estate investments.

Annaly Capital Management, Inc. Announces Dates of Fourth Quarter 2022 Financial Results and Conference Call

Retrieved on: 
Wednesday, January 25, 2023
Construction & Property, Professional Services, REIT, Finance, PIN, Annaly Capital Management, NYSE, NLY, Oaktree Capital Management, Property management

Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) announced today that it will release its financial results for the quarter and year ended December 31, 2022 after the market close on Wednesday, February 8, 2023.

Key Points: 
  • Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) announced today that it will release its financial results for the quarter and year ended December 31, 2022 after the market close on Wednesday, February 8, 2023.
  • The Company will conduct a conference call and audio webcast to discuss the results on Thursday, February 9, 2023 at 10:00 a.m. Eastern Time.
  • Participants are encouraged to pre-register for the conference call to receive a unique PIN to gain immediate access to the call and bypass the live operator.
  • Pre-registration may be completed at any time, including up to and after the call start time.

Massachusetts Court Rules that Eaton Vance and its Fund Trustees Violated Federal Law by Stripping Shareholders’ Voting Rights

Retrieved on: 
Wednesday, January 25, 2023
Banking, Professional Services, Finance, Boaz Weinstein, EVF, Trustee, Eaton Vance, General counsel, Investment Company Act of 1940, District court, NYSE, Sale, Nuveen, Morgan Stanley, Court, Vance, Oaktree Capital Management, Mail order

On July 15, 2020, Eaton Vance sued for declaratory judgement on the validity of its actions to strip away voting rights from closed-end fund shareholders through the adoption of a Control Share Amendment to its bylaws.

Key Points: 
  • On July 15, 2020, Eaton Vance sued for declaratory judgement on the validity of its actions to strip away voting rights from closed-end fund shareholders through the adoption of a Control Share Amendment to its bylaws.
  • On January 21, 2023, the Court issued a summary judgement ruling in favor of Saba and invalidating Eaton Vance’s control share provision as a violation of the Investment Company Act.
  • Eaton Vance used this illegal amendment to strip voting rights in order to facilitate the approval of new investment advisory agreements needed in connection with the sale of Eaton Vance to Morgan Stanley.
  • Had the law not been broken, we believe the significant losses suffered by shareholders could have been mitigated.”

Hestia Capital Nominates Seven Highly Qualified, Independent Candidates for Election to Pitney Bowes’ Long-Tenured, Underperforming Board of Directors

Retrieved on: 
Monday, January 23, 2023
Asset Management, Professional Services, Finance, Pitney, Annual general meeting, NYSE, Failure, NUALS Arts and Literary Annual Meet, The Interpublic Group of Companies, Multimedia, Oaktree Capital Management, Holding company, Management, Pitney Bowes, Hestia, Shareholder

In addition, Hestia released a presentation ( downloadable here ) that details a sampling of current leadership’s failings that have led to significant stockholder value destruction.

Key Points: 
  • In addition, Hestia released a presentation ( downloadable here ) that details a sampling of current leadership’s failings that have led to significant stockholder value destruction.
  • Our slate also has deep knowledge of the Company’s balance sheet, business segments, market opportunities and secular headwinds.
  • We recognize that seeking a change in control of the Board requires a compelling justification.
  • Notably, an investor would have been 6.8x better off had they invested in the S&P 500, rather than in Pitney Bowes during Mr. Lautenbach’s tenure.

Kamps, Inc. Completes First Circular Green Loan for a U.S. Pallet Organization

Retrieved on: 
Wednesday, February 8, 2023
ING, Recycling, Sustainability, Plain Green Loans, CO2, Kamps, Sustainable finance, Freeman Spogli & Co., United, Environment, Oaktree Capital Management, Renewable energy

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Kamps, Inc. ("Kamps"), one of the nation's leading pallet organizations, announced that it has amended its senior credit facility to introduce Green Loan provisions, executing the first Green Loan for a pallet company in the United States. ING Capital LLC ("ING") acted as sole Green Loan Structuring Agent on the transaction. Other lenders in the facility include Oaktree Capital Management, L.P., Adams Street Credit Advisors LP, Churchill Asset Management LLC, BlackRock Capital Investment Advisors, LLC, and WhiteHorse Capital.

Key Points: 
  • NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Kamps, Inc. ("Kamps"), one of the nation's leading pallet organizations, announced that it has amended its senior credit facility to introduce Green Loan provisions, executing the first Green Loan for a pallet company in the United States.
  • ING Capital LLC ("ING") acted as sole Green Loan Structuring Agent on the transaction.
  • "The amendment of our credit facility to include Green Loan provisions serves as a key external validation of the sustainability practices that are core to our business model.
  • The green loan will help Kamps to continue setting new standards in resource efficiency and circularity."

Investment Industry Embraces DEI Code led by CFA Institute, with More Than 100 Firms Signed up in Less Than a Year

Retrieved on: 
Wednesday, February 1, 2023
Organization, Investment, Alberta Investment Management Corporation, State Street Global Advisors, Truth, Diversity, CFA Institute, CFA, GMO, Nuveen, Wellington Management Company, PGIM, MFS Investment Management, Policy, DEI, CalPERS, Code, BCG, Natixis Investment Managers, Oaktree Capital Management, NEPC, Creative industries, Equity, Cambridge Associates

Signatory organizations together represent around US$11.2 trillion in assets under management -- approximately 10 percent of the investment industry's assets under management globally* -- as well as some US$9.5 trillion assets under advisement.

Key Points: 
  • DEI Code signatories commit to providing a confidential, annual progress report to CFA Institute using an accompanying reporting framework.
  • In addition, CFA Institute has started working with European investment industry leaders to explore how the DEI Code can be introduced in the UK and across Europe.
  • DEI Code signatories have the support of an operationalized reporting process that helps firms to plan and evidence their progress.
  • DEI Code Signatory assets under management and assets under advisement are self-reported at the point of becoming a DEI Code signatory.

Runway Growth Capital Announces Three Promotions

Retrieved on: 
Thursday, January 26, 2023
WCAS, Welsh, Carson, Anderson & Stowe, Welsh, Credit, Growth, Oaktree Capital Management, Family, Investment, Duff & Phelps, Airline, Runway

WOODSIDE, Calif., Jan. 26, 2023 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced promotions for several members of its investment team. Edward Chen becomes Managing Director, and Yifan Lai and Avisha Khubani advance to Principal.

Key Points: 
  • WOODSIDE, Calif., Jan. 26, 2023 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced promotions for several members of its investment team.
  • Edward joined Runway Growth Capital in April 2017 as a senior associate and member of the investment team, working his way up to Vice President and then Principal.
  • Yifan joined Runway Growth Capital in July 2020 as an associate and member of the investment team, and was promoted to Vice President last year.
  • Together, the three will continue to represent Runway and ensure the firm remains a diligent, steady partner that provides minimally-dilutive capital to passionate and driven management teams of growth businesses.

Appendix 4C Quarterly Activity Report

Retrieved on: 
Tuesday, January 31, 2023
Survival, LVAD, Regenerative medicine, Mesoblast, MSB, Inflammation, Center for International Blood and Marrow Transplant Research, MOA, Oaktree Capital Management, Biologics license application, BLA, Degenerative disc disease, Patient, BAT, FDA, Heart, Appendix, MESO, Noriyuki Abe, Executive, Pain, Mobile phone, Video game, Pharmaceutical industry, Fine chemical

NEW YORK, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today provided an activity report for the second quarter ended December 31, 2022.

Key Points: 
  • NEW YORK, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today provided an activity report for the second quarter ended December 31, 2022.
  • Long-term survival results were received for remestemcel-L from Mesoblast’s pivotal Phase 3 clinical trial (GVHD-001) in children with SR-aGVHD.
  • These new long-term survival data are a key component of the Company’s BLA resubmission to the FDA.
  • Salary payments to full-time Executive Directors were US$324,678 and fees to Non-Executive Directors were US$192,164, detailed in Item 6 of the Appendix 4C cash flow report for the quarter.9

Western New England Bancorp, Inc. Reports Results for the Three Months and Year Ended December 31, 2022 and Announces 17% Increase in Quarterly Cash Dividend

Retrieved on: 
Tuesday, January 24, 2023
GAAP, Insurance, Tax, Safety, Paycheck Protection Program, FHLB, Advertising, Three Months in the Southern States, COVID-19, The Twelve Months, Uncertainty, Federal, Futures contract, Credit, Sale, Current Expected Credit Losses, Environment, Nature, PPP, Oaktree Capital Management, Growth, Investment, Delinquent, FDIC, DB, Lender option borrower option, Bank, Real estate, Life insurance, Health insurance, Internet service provider, Airline

The net interest margin was 3.44% for the three months ended December 31, 2022 compared to 3.08% for the three months ended December 31, 2021 and 3.35% for the three months ended September 30, 2022.

Key Points: 
  • The net interest margin was 3.44% for the three months ended December 31, 2022 compared to 3.08% for the three months ended December 31, 2021 and 3.35% for the three months ended September 30, 2022.
  • The net interest margin, on a tax-equivalent basis, was 3.47% for the three months ended December 31, 2022, compared to 3.10% for the three months ended December 31, 2021 and 3.37% for the three months ended September 30, 2022.
  • Net Income for the Three Months Ended December 31, 2022 Compared to the Three Months Ended September 30, 2022.
  • For the twelve months ended December 31, 2022, the efficiency ratio was 61.8%, compared to 64.1% for the twelve months ended December 31, 2021.

US multi-billion-dollar Aspiration Inc. to Expand to the UAE Capital under Abu Dhabi Investment Office Supported Program

Retrieved on: 
Thursday, January 19, 2023
Abu Dhabi Investment Office, Ecosystem, Los Angeles Clippers, Microsoft, Name, Los Angeles Lakers, Meta, UN, Government, Oaktree Capital Management, Maitrī, Aspiration, Inc., Agtech, Carbon, ABU, Metta Sandiford-Artest, City, Climate, Aspiration, 2009 Boston Red Sox season, Policy, Abu Dhabi Global Market, Multimedia, Investment, Boston Red Sox, Video game, Renewable energy

ABU DHABI, UAE, Jan. 19, 2023 /PRNewswire/ -- California based fintech company Aspiration Inc., backed by such powerhouses as Oaktree Capital Management and affiliates of former Microsoft Corp CEO Steve Balmer and environmentalists and Hollywood icons Leonardo DiCaprio and Robert Downey Jr, announced today that the company will be setting up offices at Abu Dhabi Global Markets. Aspiration is being supported by Access Abu Dhabi, the business expansion program by Maven Global Access and powered by Abu Dhabi Investment Office (ADIO), that serves as a conduit to fast-track entry to the burgeoning UAE capital. The announcement was made today during Abu Dhabi Sustainability Week, where Vinoda Basnayake, President of Aspiration MENA discussed the company's ambitious plans for the region. Aspiration is a purpose-driven climate action company that offers large and small enterprises, governments, investors, and consumers access to a portfolio of high-quality carbon assets through innovative products, services, and investments that drive climate action.

Key Points: 
  • Aspiration is being supported by Access Abu Dhabi, the business expansion program by Maven Global Access and powered by Abu Dhabi Investment Office (ADIO), that serves as a conduit to fast-track entry to the burgeoning UAE capital.
  • Aspiration aims to serve as a sustainability partner for the UAE ahead of Abu Dhabi hosting COP28, the UN's annual climate change summit taking place this November.
  • We are excited about the opportunity to develop partnerships here with the support of Access Abu Dhabi and ADIO."
  • Aspiration Inc. credits its upcoming expansion into Abu Dhabi to the support of the Maven Global Access Abu Dhabi initiative.