Oaktree & Brookfield Update TORM plc Stake on Jan 16
Ticker: TRMD · Form: SC 13D/A · Filed: Jan 18, 2024 · CIK: 1655891
| Field | Detail |
|---|---|
| Company | Torm PLC (TRMD) |
| Form Type | SC 13D/A |
| Filed Date | Jan 18, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, amendment, institutional-investor
TL;DR
**Oaktree and Brookfield just updated their TORM plc ownership, signaling potential shifts in their investment strategy.**
AI Summary
Oaktree Capital Group Holdings GP, LLC, along with its affiliates like Brookfield Corp and Oaktree Capital Management GP, LLC, filed an amendment to their Schedule 13D on January 18, 2024, indicating a change in their beneficial ownership of TORM plc's Class A common shares. This amendment, dated January 16, 2024, updates previous filings regarding their significant stake in the deep-sea freight transportation company. This matters to investors because Oaktree and Brookfield are major institutional investors, and changes in their holdings can signal their outlook on TORM's future performance or strategic direction, potentially influencing stock price.
Why It Matters
This filing shows that a major institutional investor group, including Oaktree and Brookfield, is updating its position in TORM plc, which can influence market perception and the stock's valuation.
Risk Assessment
Risk Level: medium — Changes in significant institutional ownership can introduce volatility and uncertainty for existing shareholders.
Analyst Insight
Investors should monitor subsequent filings from Oaktree and Brookfield for TORM plc to understand the nature of their updated stake, as this could signal a strategic move or a change in their investment thesis.
Key Numbers
- $0.01 — Par value per Class A common share (This is the nominal value of each share of TORM plc.)
Key Players & Entities
- Oaktree Capital Group Holdings GP, LLC (company) — filing party and beneficial owner
- TORM plc (company) — subject company, issuer of Class A common shares
- Brookfield Corp (company) — group member and beneficial owner
- Oaktree Capital Management GP, LLC (company) — group member and beneficial owner
- January 16, 2024 (date) — date of event requiring the filing
- $0.01 (dollar_amount) — par value per Class A common share of TORM plc
- Todd E. Molz (person) — Managing Director and General Counsel for Oaktree Capital Management, L.P., authorized to receive notices
FAQ
What is the purpose of this SC 13D/A filing?
This SC 13D/A filing is an amendment (Amendment No. 10) to a previously filed Schedule 13D, indicating an update to the beneficial ownership information of TORM plc's Class A common shares by the filing group, which includes Oaktree Capital Group Holdings GP, LLC and its affiliates.
Who are the primary entities involved in this filing?
The primary entities involved are TORM plc as the issuer, and the filing group led by Oaktree Capital Group Holdings GP, LLC, which includes group members such as ATLAS OCM HOLDINGS LLC, BAM PARTNERS TRUST, BROOKFIELD ASSET MANAGEMENT LTD, BROOKFIELD ASSET MANAGEMENT ULC, BROOKFIELD CORP, and OAKTREE CAPITAL MANAGEMENT GP, LLC.
What is the CUSIP number for TORM plc's Class A common shares?
The CUSIP number for TORM plc's Class A common shares is G89479102, as stated in the filing.
When was the event that triggered this filing?
The date of the event which requires the filing of this statement was January 16, 2024.
What is the business address and phone number for Oaktree Capital Management, L.P.?
The business address for Oaktree Capital Management, L.P. is 333 South Grand Avenue, 28th Floor, Los Angeles, California 90071, and their business phone number is (213) 830-6300.
Filing Stats: 2,070 words · 8 min read · ~7 pages · Grade level 14.8 · Accepted 2024-01-18 16:15:40
Key Financial Figures
- $0.01 — suer) Class A common shares, par value $0.01 per share (Title of Class of Securitie
Filing Documents
- ef20019039_sc13da.htm (SC 13D/A) — 245KB
- 0001140361-24-002740.txt ( ) — 247KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 18, 2024 OCM NJORD HOLDINGS S. R.L. By: /s/ Martin Eckel Name: Martin Eckel Title: Manager OAKTREE CAPITAL MANAGEMENT GP, LLC By: /s/ Henry Orren Name: Henry Orren Title: Senior Vice President ATLAS OCM HOLDINGS, LLC By: /s/ Henry Orren Name: Henry Orren Title: Senior Vice President OAKTREE CAPITAL GROUP HOLDINGS GP, LLC By: /s/ Henry Orren Name: Henry Orren Title: Senior Vice President BROOKFIELD ASSET MANAGEMENT ULC By: /s/ Kathy Sarpash Name: Kathy Sarpash Title: Managing Director, Legal & Regulatory BROOKFIELD CORPORATION By: /s/ Swati Mandava Name: Swati Mandava Title: Managing Director, Legal & Regulatory BROOKFIELD ASSET MANAGEMENT LTD. By: /s/ Kathy Sarpash Name: Kathy Sarpash Title: Managing Director, Legal & Regulatory BAM PARTNERS TRUST By: /s/ Kathy Sarpash Name: Kathy Sarpash Title: Secretary