Oaktree’s Power Opportunities strategy has agreed to sell COL Group, an Italian power transmission and distribution business, to Eaton for €810 million. Founded in 1920 in Trofarello near Turin, COL employs over 400 people across production sites in Turin, Milan, Bergamo, and Catania. Oaktree invested in COL in 2021 to support growth in essential infrastructure, helping expand its portfolio through acquisitions of Team Ware and IME Group.

Demand for resilient power infrastructure has grown rapidly from utilities, critical industry, and data centers. Francesco Giuliani, managing director at Oaktree, noted COL’s broader reach and engineering depth position it for continued grid investment. Eaton plans to integrate COL’s technology into its European power distribution platform to serve rising demand.

The Power Opportunities strategy targets infrastructure owners in electric power, natural gas, water, and utilities across North America and Europe. Oaktree is part of Brookfield’s $416 billion credit platform. The deal is expected to close in Q1 2027, with Lincoln International as exclusive financial adviser.