Oaktree nears deal for majority stake in two B Riley units,

Asset manager Oaktree Capital is in exclusive talks to acquire a majority stake in two businesses owned by investment bank B. Riley (RILY.O), opens new tab, Bloomberg News reported, opens new tab on Wednesday.

Oaktree is discussing buying a stake of 51% to 55% in B. Riley’s appraisal and valuation services arm and its retail, wholesale and industrial solutions unit, entities formerly known as Great American Group, the report added, citing people with knowledge of the matter.