Brookfield takeover sharpens focus on Inter exit
Brookfield’s full acquisition of Oaktree has placed Inter Milan inside one of the world’s largest alternative asset management groups as reports suggest preparations for a possible club sale are accelerating.
Brookfield has completed its acquisition of Oaktree Capital Management, giving the Canadian investment group ultimate control of Inter Milan while Oaktree reportedly begin exploring a sale of the Serie A club.The transaction completes a partnership between Brookfield and Oaktree that began in 2019, bringing the credit specialist fully into a global investment platform with approximately US$365bn in credit assets.Oaktree said when assuming control of Inter in 2024: “As we assume ownership, we want to reiterate our commitment to the Club’s prosperity and success.”The investment manager gained control after Inter’s previous owner, Suning, failed to repay a three-year loan secured against its holding companies, leaving Oaktree with an indirect interest of approximately 99.6%.Brookfield’s acquisition does not represent a direct transaction involving Inter, but it moves the club into a larger ownership structure with extensive experience across infrastructure, real estate, private equity and credit.Oaktree have concentrated on stabilising Inter’s finances, reducing borrowing costs and strengthening management since taking control, while maintaining the club’s competitiveness in Italy and Europe.Inter secured a €350m private placement in 2025 through senior secured notes maturing in 2030, replacing previous borrowing with a lower principal amount and tighter cost of capital after receiving an investment-grade credit rating.The refinancing strengthened the club’s financial position and could improve their appeal to potential buyers, with Oaktree reportedly beginning the process of identifying interest after more than two years in control.No formal sale process, valuation or timetable has been confirmed, although the reported approach would be consistent with Oaktree’s model of stabilising distressed or complex assets before seeking a return.Inter’s transfer spending is also being managed carefully, with the ownership group seeking to protect the balance sheet and avoid commitments that could complicate negotiations with potential investors.President Giuseppe Marotta acquired a stake of close to 2% in 2025, aligning the club’s senior executive leadership with Oaktree during a period of financial restructuring and possible ownership transition.Brookfield must now decide whether Inter remain a strategic asset within its enlarged portfolio or whether improved finances and continued sporting performance create the right conditions for a sale.