Brookfield Said Near $3 Billion Deal for Remaining Oaktree Stake

Brookfield is nearing a deal to acquire the rest of distressed-debt specialist Oaktree Capital Management, people with knowledge of the matter said, adding further heft to its credit business that’s emerged as a key driver of growth in recent years.
New York-based Brookfield Asset Management Ltd. and parent company Brookfield Corp. are set to buy the outstanding 26% stake in Oaktree for about $3 billion, the people said, asking not to be identified because the information is private. They could announce the transaction as soon as Monday, according to the people.