A much-rumored move to become a publicly-traded company has become reality, as Oaktree Capital Management has filed paperwork for an Initial Public Offering. While no information was filed as to exact amount of shares to be offered, Los Angeles-based Oaktree will have Goldman Sachs and Morgan Stanley underwriting the IPO. They have requested the ticker-symbol "OAK." Oaktree hopes to raise $100 million, according to BusinessWeek. According to the IPO statement, current chairman Howard Marks along with Bruce Karsh each currently hold a 15.86% stake in the company, pre-IPO. Marks does not receive a salary or bonuses, but instead receives equity distribution and profit sharing. Oaktree is the financial backer of Connecticut-based Townsquare Media, which operates over 160 radio stations in 30 markets. Oaktree has acquired the debt of New Jersey's Millennium Radio Group, the parent company of talk/music hybrid "New Jersey 101.5" WKXW-FM.