Limited Partnership Oaktree Capital Group (NYSE:OAK) is going to sell a new fixed rate preferred offering.
No real detail has yet been announced (such as pricing and size of offering).
As a company we kind of like Oaktree, which is organized as a MLP, as Howard Marks founded the company. Howard is somewhat legendary in the distressed asset investment area and the company has $121 billion under management. Of course that doesn’t make this a good investment–we will just have to wait and see.
It is likely a K-1 will be issued for these units at tax time.