Oaktree opens Sydney office, eyes miner distress

The distressed debt expert has opened an office in Australia as China’s slowdown weighs on the country's miners.

Oaktree Capital has opened an office in Sydney at a time when falling commodity prices and China’s economic slowdown are weighing on the economy Down Under, the distressed debt investment specialist said on Thursday.

Byron Beath will lead investment activities in the region, the Los Angeles-headquartered firm said in a statement.

The move follows Australia’s mining boom collapse in the face of falling commodity prices and rising costs, whucb has caused equity and debt financing via capital markets to virtually dry up.

Other specialist private equity firms and hedge funds have in recent years also spotted value in Australian miners,...

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