Los Angeles, CA (August 19, 2010) - Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that the firm advised funds managed by Oaktree Capital Management, L.P., a premier global investment manager, on their winning bid for a $1.7 billion portfolio of distressed real estate loans and properties auctioned by the Federal Deposit Insurance Corporation (FDIC).
The portfolio includes approximately 200 loans, secured by properties located in several states throughout the U.S., and approximately 80 properties also located in several states throughout the U.S. The loans were originated by Ohio-based Am Trust Bank.
Real estate partners Philip Feder, Derek Smith and Derek Roth led the Paul Hastings team, which included associates John Chi and James Han.
About Oaktree Capital Management, L.P.: Headquartered in Los Angeles, Oaktree Capital Management, L.P., is a global investment management firm with more than $76 billion in assets under management.
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.