Oaktree invests $150m in fashion company WHP Global

Oaktree Capital Management today increased its equity commitment to WHP Global, a New York-based brand acquisition and management firm. The additional $150 million investment follows on Oaktree’s initial $200 million commitment made previously. Oaktree manages $125 billion in alternative investment assets worldwide. “We increased our commitment to WHP because we believe the company is strongly positioned to take advantage of attractive acquisition opportunities in the market," said Thomas Casarella, managing director at Oaktree and a founding member of the WHP board of directors. "We look forward to continuing our partnership with Yehuda and the team as we build the platform." WHP, which launched last year, also announced the closing of its acquisition of men’s fashion brand Joseph Abboud. According to the announcement, WHP has more than $1.4 billion in global retail sales across its portfolio brands including Anne Klein. Financing for the new acquisition was provided by BlackRock. In addition to Oaktree's commitment, WHP Global received a $10 million commitment from Platform Founder Group LLC, owned in part by Yehuda Shmidman and WHP's management team. “WHP Global was established to acquire large-scale and well-known consumer brands with strong growth prospects in international and digital markets,” WHP Chairman and CEO Shmidman. " Succeeding in that mission is made possible through the tireless work of our team, our relationships with a broad network of business partners, and our partnership with Oaktree. We're pleased to have completed two major transactions in less than a year, and we look forward to continuing the momentum for the balance of 2020."

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