Oaktree Capital Group plans to raise a new infrastructure fund early next year, managing principal John Frank said during a conference call Thursday discussing the firm’s second-quarter earnings results.

Frank said on the call that Oaktree is slated to close its acquisition of infrastructure investors Highstar Capital this week. Oaktree will take over management of Highstar's most recent fund, Highstar Fund IV, which has about $2.3 billion of assets under management.