Close Brothers Asset Management, previously operating as the wealth management division of the United Kingdom-based banking group Close Brothers Group plc, was officially acquired by funds managed by the prominent global alternative investment manager Oaktree Capital Management. The corporate transaction, which was initially announced in late 2024, successfully completed following the receipt of all necessary regulatory approvals. This strategic divestment enabled the parent banking group to significantly strengthen its capital base, increase its Common Equity Tier 1 capital ratio, and simplify its corporate structure to focus entirely on its core banking operations, while Oaktree took ownership of the platform to invest further in its technological infrastructure and drive long-term expansion.