Oaktree Capital Management and Pimco buy stake in Echo Investment

Investment funds Oaktree Capital Management and Pimco signed a deal to jointly purchase a 41.6 percent stake in Polish office space developer Echo Investment ECH.WA, Reuters reported. Oaktree Capital and Pimco also informed they are going to launch a tender offer to raise their stake in the firm controlled by Polish billionaire Michal Solowow's to 66 percent, as Polish law requires them to do. Echo Investment's market capitalization stands at $775 million.