We are pleased to open the application process for Oaktree’s 2027 Summer Internship Program in the U.S. We will have two waves of recruitment: the first wave will run from September to October, and the second wave will take place from December to January. During these periods, we will be actively seeking enthusiastic and talented interns to join various departments within our organization. Below are groups currently accepting applications, along with group specific details.
Oaktree’s summer internships run 10 weeks starting mid-June and ending mid-August. All opportunities will be based in Los Angeles, except where noted. Applications will be open until September 21, 2026, and candidates can submit a maximum of 3 total applications per application wave.
If you have any questions or need further information, please reach out to the Early Talent Team.
Global Opportunities
Global Opportunities is an all-weather strategy launched in 1988 and serves as the flagship strategy of Oaktree Capital Management, which is headquartered in Los Angeles and manages $205 billion in assets under management (AUM). As of January 2025, the Global Opportunities strategy itself oversees $47 billion in AUM. Originally known as Distressed Opportunities, the strategy has deep roots in distressed debt, reorganizations, and restructurings. Over the past 30 years, it has evolved into a broad and flexible investment platform with a mandate to invest across the capital structure in both public and private markets, including debt, equities, and special situations.
Global Opportunities is seeking summer interns in Los Angeles with a 2029 expected graduation.
Global Private Debt
Global Private Debt focuses on U.S. and non-U.S. investment opportunities within the traded and non-traded markets. The tradeable credit opportunity set arises from pricing inefficiencies that occur in the primary and secondary markets whereas non-traded (direct) investments stem from the financing needs of healthy companies that may have limited access to traditional lenders or public markets. The team has a broad investment mandate, although typical investments tend to be in the form of high yield bonds and senior loans. The strategy targets discounted, high-quality investments across sponsored, non-sponsored, opportunistic and public opportunities. With a focus on total return, the strategy benefits from a strong focus on bottom-up fundamental credit analysis and from a team experienced in stressed credit investing over multiple market cycles.
Global Private Debt is seeking summer interns in Los Angeles and/or New York with a 2028 or 2029 expected graduation.
Real Estate Equity
The Real Estate group pursues a wide range of global investment opportunities, including direct property investments; investments in real estate-related corporations; CMBS and related securities; residential land, assets and loan pools; small-balance commercial loan pools; and non-U.S. investments. The group will also occasionally pursue development opportunities with aligned, high-quality partners. Our opportunistic approach and our team’s extensive expertise at the intersection of real estate and distressed debt allows us to capitalize on continued flow of over-leveraged and distressed real estate in need of rescue capital or asset repositioning.
Real Estate Equities is seeking a summer intern in Los Angeles with a 2029 expected graduation.
Sourcing & Origination
Interns will work with the Sourcing & Origination team and support the Strategic Credit strategy while being part of our international internship program. As part of this program, you will have contact with senior leaders and opportunities to participate in events in and outside of the Oaktree office.
Souring & Origination is seeking a summer intern in New York with a 2028 or 2029 expected graduation.
Special Situations
The Special Situations strategy makes control-oriented debt and equity investments in middle-market companies that have an element of distress, dislocation or dysfunction and that we perceive to be undervalued. It seeks situations in which we can gain control of, or significant influence over, companies exhibiting such characteristics and then actively manages those businesses in an effort to deliver value as a private equity-like sponsor. The cornerstone of the Special Situations strategy is its flexibility to invest across capital structures, whether by purchasing secondary market debt (distress-for-control) or making direct equity investments in distressed businesses. Importantly, the strategy does not require a distressed macro environment to invest successfully, relying instead on “situational” distress that can be uncovered in any industry, sector or individual company at any point in the economic cycle.
Special Situations is seeking summer interns in Los Angeles with a 2028 or 2029 expected graduation.
U.S. Senior Loans
The U.S. Senior Loans strategy invests in broadly-syndicated, senior-secured loans or other senior, non-investment-grade debt. In most instances, the instruments we target constitute the most senior component in the borrower’s capital structure. The strategy’s focus is on U.S. dollar-denominated loans secured by first-priority liens in performing companies primarily within the U.S. Though it is less common, we may also invest in second lien loans, non-dollar-denominated loans, and secured or unsecured bonds, where we believe the value of the underlying business comfortably exceeds the value of our claim in a downside scenario.
U.S. Senior Loans is seeking a summer intern in Los Angeles with a 2028 or 2029 expected graduation.
Summer Stipend
$43/hour
Equal Opportunity Employment Policy
Oaktree is committed to diversity and to equal opportunity employment. Oaktree does not make employment decisions on the basis of race, creed, color, ethnicity, national origin, citizenship, religion, sex, sexual orientation, gender identity, gender expression, age, past or present physical or mental disability, HIV status, medical condition as defined by state law (genetic characteristics or cancer), pregnancy, childbirth and related medical conditions, veteran status, military service, marital status, familial status, genetic information, domestic violence victim status or any other classification protected by applicable federal, state and local laws and ordinances. This policy applies to hiring, placement, internal promotions, training, opportunities for advancement, recruitment advertising, transfers, demotions, layoffs, terminations, recruitment advertising, rates of pay and other forms of compensation and all other terms, conditions and privileges of employment. This policy applies to all Oaktree applicants, employees, clients, and contractors. Staff members wishing to report violations or suspected violations of this policy should contact the head of their department or Human Resources.
For positions based in Los Angeles
For those applying for a position in the city of Los Angeles, the firm will consider for employment qualified applicants with a criminal history in a manner consistent with applicable federal, state and local law.
Oaktree Capital Management, L.P. Los Angeles, California, USA Office
333 South Grand Avenue, Los Angeles, CA, United States, 90071
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