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The first time I privately met the bankers of Oaktree Capital Management in London was soon after Blackstone surrendered control of Klöckner Pentaplast, a German plastic films maker that cost the private equity behemoth a fortune – PE house Cinven won big in those days, getting out of it just before the 2008 meltdown. 

For Blackstone, the outcome of that investment – in terms of hefty losses – was possibly even worse than CEVA Logistics for Apollo.


Highly focused on corporate restructurings, the ...

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