Oaktree Capital Management was founded in April 1995 and is headquartered in Los Angeles, California. Oaktree is an independent investment management firm, focusing exclusively on alternative and inefficient investment markets. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investment niches in distressed debt, high-yield bonds, convertible securities, private equity (including power infrastructure), real estate, mezzanine financing, emerging markets securities, and Japanese equity securities. In addition to its head office in Los Angeles, Oaktree has offices in New York, Stamford (Connecticut), Houston (Texas), Amsterdam, Dubai, Dublin, Frankfurt, London, Luxembourg, Paris, Beijing, Hong Kong, Seoul, Shanghai, Singapore, Sydney, and Tokyo. Oaktree's opportunistic real estate investments target a diverse range of global opportunities including direct property investments, corporate investments, undervalued debt, real estate-related equity securities, and development with aligned, high-quality partners. In March 2019, the firm was agreed that Brookfield Asset Management would acquire all outstanding shares of its publicly traded common stock, representing a 62% stake in the business. The two businesses will continue to operate independently.