(China News Service | Beijing | February 18) Oaktree (Beijing) Investment Management Co., Ltd. (Oaktree Beijing for short), the wholly-owned subsidiary of Oaktree Capital, the world-renowned investment management company, completed its business registration in Beijing, with its business scope involving investment management, capital management, etc.

Reportedly, this is China's first U.S.-funded private equity firm settled down in Beijing during China's epidemic prevention and control period, and is also the first foreign private equity firm registered in Beijing after the official implementation of the Foreign Investment Law of the People's Republic of China.

Oaktree Capital, founded in 1995 and headquartered in Los Angeles, is the world's largest buyer of global non-performing assets, managing a total of global assets over 120 billion U.S. dollars. In China, its non-performing asset investment field is relatively active, the total investment exceeding 6.5 billion U.S. dollars.

Oaktree Beijing, registered in Chaoyang District of Beijing on February 14, will become an important platform for Oaktree Capital to expand its businesses in China.

On February 18, Rachel Chao, General Manager of Oaktree Overseas Investment Fund Management (Shanghai) Co., Ltd. and co-head of its Asia Pacific operations, talked to Huo Xuewen, Director of Beijing Local Financial Supervision and Administration (Beijing FSA for short) on video from New York, the U.S.

Rachel said, Beijing's financial and business environment is very attractive for overseas-funded institutions; for example, convenience has been provided for foreign-owned institutions in policy opening, business registration, function supporting, talent introduction and other aspects; in particular, amid the epidemic prevention and control, Beijing FSA has provided thoughtful caring services to address foreign enterprises' problems in time and ensure the smooth establishment of the subsidiary.

Although China's economy shortly suffered from the outbreak of COVID-19, Rachel added, (Oaktree) focused more on the growth of long-term fundamentals. Temporary fluctuations would not disturb Oaktree's view of long-term growth of China's economy. The company will continue to actively explore the investment opportunities in Beijing and throughout the country, and will further and expand investment in China.

"Oaktree Capital is welcomed to set up subsidiary in Beijing," noted Huo. Since this year, Beijing Financial Supervision and Administration has kept tracking more than 20 foreign financial institutions interested in setting up subsidiaries in Beijing, and more top global financial institutions are believed to land in Beijing in the future.