Oaktree Explores £1.2B IPO for CompassRock BTR Platform

Oaktree Capital Management is preparing a London initial public offering for CompassRock, a UK and Ireland build-to-rent platform branded by the portfolio. Reports say the IPO could value the business at around £1.2B, with Citi and Jefferies leading the process and a road show underway.

CompassRock comprises roughly 2,750 rental units, with a majority described as stabilised and income-producing. The portfolio is concentrated across the south of England and Dublin, with just over half of units in the UK and the balance in Ireland. Oaktree is targeting around £500M of primary equity and expects to retain about 75% if the listing proceeds.