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Oaktree
Manager file

Oaktree Capital Management, L.P.

An SEC-registered investment adviser with USD 183.29 billion of regulatory assets, registered since 1995, that manages 2 insurance-dedicated funds in our database. This file brings together those funds and what the adviser reports to the SEC about itself.

SEC file801-48923
CRD106793
Regulatory assetsUSD 183.29 billion
Funds with an IDF Form D2
Registered since1995
Ask about these fundsForm ADV on IAPDAll managers
PPLI.com
Manager Rating
Four stars
out of five
Editorial assessment on UHNW criteria
Reviewed 4 November 2026 · Q4 2026 edition
Updated every quarter
Rating signed byNoam CohenEditor, Fund Intelligence
About the rating
The funds

Insurance-dedicated funds managed by Oaktree

Funds and platform series in our database that file a Form D under an insurance-dedicated name and are managed by this adviser. Gross assets are as reported in the latest Form ADV that lists each fund.

Oaktree
Oaktree Insurance Dedicated Fund IIPrivate credit · SALI platformUSD 221.3 million
Oaktree
Oaktree Insurance Dedicated FundPrivate credit · SALI platformUSD 108.9 million
The rating

Why Oaktree Capital Management, L.P. has four stars

Oaktree runs USD 183 billion of regulatory assets and has been registered with the SEC since 1995. It reports two matters in its Form ADV, the most recent brought by the SEC in 2024. Both of its rated insurance-dedicated funds have four stars.

The rating looks only at the areas below, which matter to a family holding this manager's funds through a private placement policy. Past returns play no part: these funds do not report them in their SEC filings, and they say little about what a policy will earn.

Conduct and regulatory record

What regulators and courts have recorded against the manager, and for platform series against the platform, as the advisers report it to the SEC. Several proceedings on one set of facts count as one matter. Recent and serious matters count most, matters of other companies in the group count for less, matters of individuals are weighed by the person's role and their bearing on the business, and the size of the firm is taken into account.

Reported controls

What the adviser reports to the SEC for the fund: whether the accounts are audited every year by an accountant registered with the PCAOB and subject to its regular inspection, whether audited statements go to investors and what the audit opinion says, whether the administrator and custodian are outside the adviser's group, and what share of the assets was valued last year by a person not related to the adviser.

Depth and experience of the manager

The assets the manager runs, its investment staff and how long it has been registered with the SEC.

PPLI.comManager Rating

Investor experience. What policyholders, insurers and advisers tell us is shown separately and never changes the stars. A factual point they raise is checked against the filings, and if it holds, the data is corrected. We never publish names. Tell us about yours

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the fund or its manager, not a credit rating, not a forecast of returns and not investment advice. Read about the rating.

The adviser at a glance

Registration and size

Identity

Legal nameOaktree Capital Management, L.P.
SEC registrationRegistered investment adviser, 801-48923  IAPD
CRD number106793
Latest Form ADV17 August 2026  ADV
Registered with the SEC since7 April 1995

Assets and staff, as filed

Regulatory assets under managementUSD 183,287,000,000
Of which discretionaryUSD 181,381,000,000
Employees905
Of which investment advisory staff282
Private funds listed in Schedule D284

Regulatory assets are calculated under the SEC's Form ADV instructions and include all funds and accounts the adviser manages, not only those open to insurers. Figures come from the SEC's adviser files of November 2026.

The record

Regulatory and legal record

What the adviser itself discloses in Item 11 of its Form ADV, summarised from the disclosure pages, with a link to the filing. Item 11 is filed for the adviser as a whole, so under each matter the fund it concerns is read from the disclosure itself.

202425 September 2024

Regulatory action by US Securities and Exchange Commission: civil penalty

Fund concerned: none named in the filing. The matter concerns the adviser itself, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The SEC found that Oaktree Capital Management, L.P. failed to timely file required Section 16(a) reports and failed to timely file schedule 13D and schedule 13G amendments and therefore violated and caused violations of Sections 13(d) and 16(a) of the Securities Exchange Act of 1934 and rules 13d-2 and 16a-3 promulgated thereunder.

US Securities and Exchange Commission · Order 25 September 2024 · USD 375,000 · Concerns the adviser itself · Form ADV, Item 11 disclosure
201810 July 2018

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: none named in the filing. The matter concerns the adviser itself, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The SEC alleged that in three instances, Oaktree provided advisory Services for compensation for two years to a State or local governmental investor after a "covered associate" of Oaktree made a personal campaign contribution to a candidate for a governmental position which had the ability to influence the selection of Investment Advisers for that governmental investor, in technical violation of Rule 206(4)-5 under the Advisers Act (the SEC'S "pay-to-play" Rule for Investment Advisers). These non- scienter based violations took place in 2014 and 2016.

US Securities and Exchange Commission · Order 10 July 2018 · USD 100,000 · Concerns the adviser itself · Form ADV, Item 11 disclosure

These are the matters Oaktree Capital Management, L.P. reports in Item 11 of its Form ADV, filed 17 August 2026. A reported matter is a fact disclosed by the adviser, not a finding by PPLI.com. None of them concerns the insurance-dedicated funds listed above.

Reader rating

How would you rate Oaktree Capital Management, L.P.?

Tap a star to give your own rating, from one to five, then add your name and email and, if you wish, a comment. Reader ratings are shown separately and never change the PPLI.com Manager Rating, which rests only on what the filings report.

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Your name and email are used only if the research desk needs to reply, and are never published. Comments go to the desk, which checks any factual point against the filings.

Sources

  1. Form ADV of Oaktree Capital Management, L.P., filed 17 August 2026: reports.adviserinfo.sec.gov, CRD 106793
  2. Adviser summary: adviserinfo.sec.gov/firm/summary/106793
  3. SEC investment adviser files, November 2026, for assets, staff and registration dates
  4. Form D filings of each fund listed: sec.gov EDGAR

About this file

Prepared by the PPLI.com research desk from the public filings listed, checked on 4 November 2026. Updated every quarter, or sooner when a new filing appears. To report an error, write to [email protected] with the filing that shows it.

Important. Educational research only, not an offer or a recommendation. A matter reported in Form ADV is a fact disclosed by the adviser, not a finding by PPLI.com.

File Oaktree Capital Management, L.P.Checked 4 November 2026Published 4 November 2026
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