(Yicai Global) Feb. 18 -- US's Oaktree Capital Management, one of the world's largest distressed securities investors, has established a subsidiary in Beijing to widen its global credit investment business.

The Los Angeles-based parent set up Oaktree Beijing Investment Management with USD5.4 million in registered capital, Shanghai Securities News reported today, citing regulatory data.

The parent has already invested more than USD6.5 billion in Chinese non-performing assets, the report added. 

Founded in 1995, Oaktree Capital manages over USD120 billion in assets.

Editor: Emmi Laine