Oaktree Capital Management has reduced its stake in Torm below 20% after OCM Njord Holdings S.à r.l. sold 3,509,701 Class A shares in the Danish product tanker owner in a Rule 144 block trade, according to a 23 June SEC Schedule /A filing.
The shares were sold on 22 June at $29.08 each, giving the transaction gross proceeds of about $102.1m. A Form 144 dated 22 June had put the proposed sale at an aggregate market value of $103.2m. Morgan Stanley & Co. LLC was named as broker, with Nasdaq listed as the exchange for the proposed sale.
After the block trade, the Oaktree reporting group beneficially owned 20,329,874 Torm Class A shares, equal to 19.86% of the company’s outstanding Class A shares. The calculation was based on 102,367,118 shares outstanding as of 2 June.
The reporting entities named in the filing include OCM Njord Holdings S.à r.l., Oaktree Capital Management GP, LLC, Oaktree Capital Holdings, LLC and Oaktree Capital Group Holdings GP, LLC. The filing identifies the Oaktree entities as Delaware-organised.
The sale extends Oaktree’s sell-down of a long-held Torm position. In March, OCM Njord held 23,839,575 shares, representing 23.39% of the company’s share capital and voting rights. In December 2025, Hafnia completed the acquisition of 14,156,061 Torm A shares from Oaktree.
That earlier reduction changed Torm’s governance structure. In January, Oaktree and its affiliates fell below the one-third ownership threshold set out in the company’s articles, ending the position and authority of the B-director.
Torm is a Danish product tanker owner founded in 1889, with business focused on the transportation of refined oil products and chemicals.
Oaktree Capital Management is a global alternative investment manager founded in 1995 and active across credit, equity and real estate.
Hafnia is a tanker company focused on refined oil products and chemical transportation.
