The event occurred in early June 2024 - Oaktree Capital trimmed their Torm Plc (TRMD) stake, selling nearly 7M shares, and reducing the Torm stake to 46.68% of the tanker company’s shares.
Oaktree Capital still having voting majority in Torm Plc (via a special voting class of shares)
Oaktree has been involved with Torm for more than a decade. A few possibilities on why the company opted to reduce its stake.
- Diversification of the Oaktree port
- Redemptions at the Oaktree Funds level.