AM
Aeref Management, Llc
SEC-registered
Private Fund Manager · Small ($100M–$1B)
CRD 322495
· SEC file 801-128798
· New York, NY
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ADV data as of Mar 31, 2026
- Regulatory AUM
- $194M
- Discretionary
- $194M
- Clients
- 2
- Avg AUM / client
- $97.2M
- Accounts
- 2
- Employees
- 20
AUM over time
$15.8M
$194M
Dec 2022
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 2 | $194M | 100.0% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $25.8M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| A&E Real Estate Finance, Lp | Real Estate Fund | Delaware | $25.8M | 8 |
People (19)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Marks, Howard, Stanley | Manager | Apr 1995 (31y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Stone, Sheldon, Michael | Manager | Apr 1995 (31y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Karsh, Bruce, Allen | Manager | May 1995 (31y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Frank, John, Bernkopf | Manager | Jul 2001 (25y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Arrillaga, John | Sole Trustee, Beneficiary | Nov 2007 (19y) | Less than 5% | |
| Stamen Arrillaga, Justine, Alexandra | Beneficiary | Nov 2007 (19y) | ≈ 4.69% – 31.64% via The Arrillaga Cp Trust Dated November 30, 2007 | |
| Eisenberg, Douglas, Foster | Board Member | May 2011 (15y) | Less than 5% | |
| Eisenberg, Wendy, Abels | Member | May 2011 (15y) | ≈ 4.69% – 31.64% via Pierrepont Holdings, Llc | |
| Vencatachellum, Rodney, Parama | Manager | Mar 2016 (10y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Levin, Daniel, Dane | Manager | Apr 2017 (9y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Kraus, Peter, Steven | Member | Jan 2021 (6y) | ≈ 3.13% – 18.75% via Abstract Alternative Investors Llc | |
| Molz, Todd, Emmet | Manager | Mar 2024 (2y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| O'leary, Robert, J | Co Ceo | Mar 2024 (2y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Panossian, Armen, Ryan | Co Ceo | Mar 2024 (2y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Ting, Richard, Kwang Pei | General Counsel | Mar 2024 (2y) | GP / trustee / elected manager of Oaktree Capital Management, L.P. (indirect) | |
| Hastings, Donald, Western | Managing Director And Chief Compliance Officer | Apr 2024 (2y) | Less than 5% | |
| Brady, John, Christopher | Board Member | Sep 2024 (2y) | Less than 5% | |
| Cheng, Katy | Board Member | Sep 2024 (2y) | Less than 5% | |
| Johannes, Amy, Kathryn | Board Member | Sep 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Aeref Management Partners, Llc | Managing Member | Sep 2024 | A | 50% – 75% |
| A&E Redf Grand Avenue Partners, Llc | Member | Sep 2024 | A | 25% – 50% |
| A&E Real Estate Holdings, Llc | Member | Dec 2022 | B | ≈ 18.75% – 56.25% via Aeref Partnership, Llc |
| Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. | Member | Jul 2024 | B | ≈ 18.75% – 50% via A&E Redf Grand Avenue Partners, Llc |
| Oaktree Real Estate Finance Iv (Non Eurrc), Llc | Member | May 2022 | B | ≈ 14.06% – 50% via Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. |
| Oaktree Real Estate Debt Fund Iv Sub, L.P. | Member | Mar 2023 | B | ≈ 10.55% – 50% via Oaktree Real Estate Finance Iv (Non Eurrc), Llc |
| Oaktree Real Estate Debt Fund Iv, L.P. | Member | Mar 2023 | B | ≈ 7.91% – 50% via Oaktree Real Estate Debt Fund Iv Sub, L.P. |
| Oaktree Real Estate Debt Fund Iv Gp, Ltd. | Member | Jan 2023 | B | ≈ 5.93% – 50% via Oaktree Real Estate Debt Fund Iv, L.P. |
| Oaktree New Holdings Llc | Member | Sep 2019 | B | 75% or more of Oaktree Capital Holdings, Llc (indirect) |
| Atlas Holdings Ii Llc | Member | Sep 2019 | B | 75% or more of Oaktree New Holdings Llc (indirect) |
| Allianz Se | Shareholder | Jan 2020 | B | ≈ 1.48% – 25% via Azl Argos 83 Vermögensverwaltungsgesellschaft Mbh |
| Atlas Subco Holdings Llc | Member | Dec 2022 | B | 75% or more of Atlas Holdings Ii Llc (indirect) |
| Atlas Top Llc | Member | Dec 2022 | B | 75% or more of Atlas Subco Holdings Llc (indirect) |
| Brookfield Us Inc. | Member | Dec 2022 | B | 75% or more of Atlas Top Llc (indirect) |
| Brookfield Us Holdings Inc. | Shareholder | Nov 1994 | B | 75% or more of Brookfield Us Inc. (indirect) |
| Brookfield Asset Management Ulc | Shareholder | Dec 2022 | B | 75% or more of Brookfield Us Holdings Inc. (indirect) |
| Brookfield Corporation | Shareholder | Dec 2022 | B | 75% or more of Brookfield Asset Management Ulc (indirect) |
| The Arrillaga Cp Trust Dated November 30, 2007 | Member | Dec 2011 | B | ≈ 9.38% – 42.19% via A&E Real Estate Holdings, Llc |
| Pierrepont Holdings, Llc | Member | Mar 2011 | B | ≈ 9.38% – 42.19% via A&E Real Estate Holdings, Llc |
| Brookfield Ocm Holdings Ii, Llc | Member | May 2007 | B | 50% – 75% of Oaktree Capital I, L.P. (indirect) |
| Oaktree Capital Management Gp, Llc | Partner | Sep 2019 | B | 50% – 75% of Oaktree Capital Management, L.P. (indirect) |
| Aeref Partnership, Llc | Managing Member | Sep 2024 | B | ≈ 25% – 56.25% via Aeref Management Partners, Llc |
| Oaktree Capital Group Holdings, L.P. | Member | May 2007 | B | 25% – 50% of Oaktree Capital I, L.P. (indirect) |
| Azl Argos 83 Vermögensverwaltungsgesellschaft Mbh | Limited Partner | Jun 2026 | B | ≈ 1.98% – 25% via Oaktree Real Estate Debt Fund Iv, L.P. |
| Brookfield Asset Management Ltd | Shareholder | Dec 2022 | B | 25% – 50% of Brookfield Asset Management Ulc (indirect) |
| Abstract Alternative Investors Llc | Member | Sep 2024 | B | ≈ 12.5% – 37.5% via Aeref Management Partners, Llc |
| Oaktree Real Estate Debt Fund Iv Gp, L.P. | General Partner | Jan 2023 | B | GP / trustee / elected manager of Oaktree Real Estate Debt Fund Iv, L.P. (indirect) |
| Brookfield Oaktree Holdings, Llc | Member | May 2007 | B | GP / trustee / elected manager of Brookfield Ocm Holdings, Llc (indirect) |
| Brookfield Ocm Holdings, Llc | Member Class B | May 2017 | B | GP / trustee / elected manager of Brookfield Ocm Holdings Ii, Llc (indirect) |
| Oaktree Capital I, L.P. | General Partner | May 2007 | B | GP / trustee / elected manager of Oaktree Fund Gp I, L.P. (indirect) |
| Oaktree Capital I Gp, Llc | General Partner | Jul 2024 | B | GP / trustee / elected manager of Oaktree Capital I, L.P. (indirect) |
| Oaktree Capital Holdings, Llc | Member | Oct 2023 | B | GP / trustee / elected manager of Oaktree Capital I Gp, Llc (indirect) |
| Oaktree Capital Management, L.P. | Manager | Jun 2023 | B | GP / trustee / elected manager of Oaktree Real Estate Debt Fund Iv, L.P. (indirect) |
| Oaktree Capital Group Holdings Gp, Llc | General Partner | May 2007 | B | GP / trustee / elected manager of Oaktree Capital Group Holdings, L.P. (indirect) |
| Oaktree Fund Gp I, L.P. | Member | Jan 2023 | B | GP / trustee / elected manager of Oaktree Real Estate Debt Fund Iv, L.P. (indirect) |
| Oaktree Fund Gp, Llc | Manager | Apr 2023 | B | GP / trustee / elected manager of A&E Redf Grand Avenue Partners, Llc (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Stamen Arrillaga, Justine, Alexandra: 50% – 75% of The Arrillaga Cp Trust Dated November 30, 2007 × 50% – 75% of A&E Real Estate Holdings, Llc × 75% – 100% of Aeref Partnership, Llc × 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 4.69% – 31.64% of the firm
- Eisenberg, Wendy, Abels: 50% – 75% of Pierrepont Holdings, Llc × 50% – 75% of A&E Real Estate Holdings, Llc × 75% – 100% of Aeref Partnership, Llc × 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 4.69% – 31.64% of the firm
- Kraus, Peter, Steven: 25% – 50% of Abstract Alternative Investors Llc × 25% – 50% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 3.13% – 18.75% of the firm
- A&E Real Estate Holdings, Llc: 75% – 100% of Aeref Partnership, Llc × 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 18.75% – 56.25% of the firm
- Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P.: 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 18.75% – 50% of the firm
- Oaktree Real Estate Finance Iv (Non Eurrc), Llc: 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 14.06% – 50% of the firm
- Oaktree Real Estate Debt Fund Iv Sub, L.P.: 75% – 100% of Oaktree Real Estate Finance Iv (Non Eurrc), Llc × 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 10.55% – 50% of the firm
- Oaktree Real Estate Debt Fund Iv, L.P.: 75% – 100% of Oaktree Real Estate Debt Fund Iv Sub, L.P. × 75% – 100% of Oaktree Real Estate Finance Iv (Non Eurrc), Llc × 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 7.91% – 50% of the firm
- Oaktree Real Estate Debt Fund Iv Gp, Ltd.: 75% – 100% of Oaktree Real Estate Debt Fund Iv, L.P. × 75% – 100% of Oaktree Real Estate Debt Fund Iv Sub, L.P. × 75% – 100% of Oaktree Real Estate Finance Iv (Non Eurrc), Llc × 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 5.93% – 50% of the firm
- Allianz Se: 75% – 100% of Azl Argos 83 Vermögensverwaltungsgesellschaft Mbh × 25% – 50% of Oaktree Real Estate Debt Fund Iv, L.P. × 75% – 100% of Oaktree Real Estate Debt Fund Iv Sub, L.P. × 75% – 100% of Oaktree Real Estate Finance Iv (Non Eurrc), Llc × 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 1.48% – 25% of the firm
- The Arrillaga Cp Trust Dated November 30, 2007: 50% – 75% of A&E Real Estate Holdings, Llc × 75% – 100% of Aeref Partnership, Llc × 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 9.38% – 42.19% of the firm
- Pierrepont Holdings, Llc: 50% – 75% of A&E Real Estate Holdings, Llc × 75% – 100% of Aeref Partnership, Llc × 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 9.38% – 42.19% of the firm
- Aeref Partnership, Llc: 50% – 75% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 25% – 56.25% of the firm
- Azl Argos 83 Vermögensverwaltungsgesellschaft Mbh: 25% – 50% of Oaktree Real Estate Debt Fund Iv, L.P. × 75% – 100% of Oaktree Real Estate Debt Fund Iv Sub, L.P. × 75% – 100% of Oaktree Real Estate Finance Iv (Non Eurrc), Llc × 75% – 100% of Oaktree Real Estate Debt Reit Aggregator (Non Eurcc), L.P. × 75% – 100% of A&E Redf Grand Avenue Partners, Llc × 25% – 50% direct ≈ 1.98% – 25% of the firm
- Abstract Alternative Investors Llc: 25% – 50% of Aeref Management Partners, Llc × 50% – 75% direct ≈ 12.5% – 37.5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $25.8M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| A&E Real Estate Finance, Lp | Real Estate Fund | $25.8M | $1.0M | 8 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 1.31 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗