HAS CAPITAL, WILL TRAVEL: The Principal Opportunities Fund of Oaktree Capital Management has made a “substantial” but unspecified investment in South Plainfield, N.J.-based luggage and accessories maker Tumi Inc. Funds will be used to improve Tumi’s balance sheet, increase brand awareness, selectively expand its retail stores and aggressively develop its international business, the company said. Tumi currently has more than 20 stores in the U.S., and flagships internationally in Tokyo, Singapore and London. Oaktree is a Los Angeles-based private investment bank managing in excess of $25 billion. New York-based investment bank Financo Inc. represented Tumi in the transaction.
This story first appeared in the October 11, 2002 issue of WWD. Subscribe Today.