(Reuters) -Brookfield said on Monday it would buy the remaining 26% stake in U.S.-based asset manager Oaktree Capital Management for about $3 billion, as the investment firm looks to strengthen its credit business.

Under the terms of the deal, New York-based Brookfield Asset Management and its parent, Brookfield, will fund roughly $1.6 billion and $1.4 billion of the purchase price, respectively.

The deal will make the U.S. the largest market for Brookfield Asset Management, with $550 billion in assets across the country, employing more than 50% of its workforce and generating about half of its revenue.

Brookfield had bought most of Oaktree for roughly $5 billion in 2019, creating an alternative asset manager juggernaut to compete against heavyweights such as Blackstone.

The move had a

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