Oaktree Capital Group LLC has joined a group of companies that would be buying shares of China Cinda Asset Management Corp. in a Hong Kong listing. Sources told Reuters on Friday that the world's largest distressed debt investor will be participating in  China Cinda's USD2.5 billion initial public offering. 

China China, one of the country's four bad debt mangers, is the first that went public. 

According to Reuters, hedge fund Och-Ziff Capital Management Group LLC, Chinese Ping An Insurance and sovereign wealth fund Abu Dhabi Investment Authority have also joined Oaktree as so-called cornerstone investors. 

The final list of investors may however change, the sources said. 

Cornerstone investors in IPOs receive a guaranteed allocation in exchange for agreeing to retain their stakes for a set period of time, Reuters said. 

Based on its latest financial report, Oaktree has a total of USD77.1 billion assets under management as of last year. 

China Cinda is expected to start trading in the Hong Kong Stock Exchange on Monday, the report said.