Prior notification of a concentration (Case M.12284 – BROOKFIELD / OAKTREE) – Candidate case for simplified procedure
Date: 2026-02-18
Institutions: Directorate-General for Competition, European Commission
Subjects: debt, economic concentration, energy transition, investment, investment company, loan, merger control, real property, renewable energy, securities








C_202601108EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/1108


18.2.2026






Prior notification of a concentration
(Case M.12284 – BROOKFIELD / OAKTREE)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/1108)


1.   
On 10 February 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Brookfield Asset Management Ltd. (‘BAM’, Canada), controlled by Brookfield Corporation (‘Brookfield’, Canada),










—


Oaktree Capital Group Holdings, L.P. (‘OCGH’, United States) controlled by Oaktree Capital Group Holdings, LLC (‘OCGH GP’ together with its affiliates, ‘Oaktree’, United States),










—


Oaktree Equity Plan, L.P. (‘OEP’, United States), controlled by Oaktree.




Brookfield will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of OCGH and OEP, thereby acquiring sole control of Oaktree.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Brookfield is a global investment firm, headquartered in Toronto, Canada, that offers a range of public and private investment products and services, focused on renewable power and transition, infrastructure, private equity, and real estate,










—


Oaktree is a global alternative and non-traditional investment management firm, headquartered in Los Angeles, USA, that invests in distressed debt, high yield bonds, convertible securities, senior loans, corporate control, real estate, emerging market equities and mezzanine finance.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.12284 – BROOKFIELD / OAKTREE
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2026/1108/oj
ISSN 1977-091X (electronic edition)