SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* OAKTREE FUND GP II, L.P. (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/26/2012	3. Issuer Name and Ticker or Trading Symbol DoubleLine Opportunistic Credit Fund [ NYSE: DBL ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) X Other (specify below) See Footnote 1 Below	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares, par value $0.00001	0	I(1)(2)(3)(4)	See notes.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* OAKTREE FUND GP II, L.P. (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

1. Name and Address of Reporting Person* Oaktree Capital II, L.P. (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

1. Name and Address of Reporting Person* Oaktree Holdings, Inc. (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

1. Name and Address of Reporting Person* Oaktree Capital Group, LLC (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

1. Name and Address of Reporting Person* Oaktree Capital Group Holdings, L.P. (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

1. Name and Address of Reporting Person* Oaktree Capital Group Holdings GP, LLC (Last) (First) (Middle) 333 S. GRAND AVENUE (Street) LOS ANGELES CA 90071 (City) (State) (Zip)

Explanation of Responses:

1. Oaktree Fund GP II, L.P. ("GP II") may be deemed to be an "affiliated person" (as such term is defined in the Investment Company Act of 1940, as amended) of DoubleLine Capital LP ("DoubleLine"), the investment adviser to DoubleLine Opportunistic Credit Fund (the "Issuer"). This Form 3 is also being filed by: (i) Oaktree Capital II, L.P. ("Capital II"), in its capacity as the general partner of GP II; (ii) Oaktree Holdings, Inc. ("Holdings"), in its capacity as the general partner of Capital II; (iii) Oaktree Capital Group, LLC ("OCG"), in its capacity as the sole shareholder of Holdings; (iv) Oaktree Capital Group Holdings, L.P. ("OCGH"), in its capacity as the holder of a majority of the voting units of OCG; and (v) Oaktree Capital Group Holdings GP, LLC ("OCGH GP", and together with GP II, Capital II, Holdings, OCG and OCGH, each a "Reporting Person" and collectively, the "Reporting Persons") in its capacity as the general partner of OCGH. (Continued in footnote 2)

2. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no such Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

3. Each Reporting Person disclaims beneficial ownership of all Common Stock reported herein except to the extent of their respective pecuniary interest therein, if any, and the filing of this Form 3 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any Common Stock covered by this Form 3.

4. OCGH GP is a limited liability company managed by an executive committee, the members of which are Howard S. Marks, Bruce A. Karsh, Sheldon M. Stone, Larry W. Keele, Stephen A. Kaplan, John B. Frank, David M. Kirchheimer and Kevin L. Clayton (each, an "OCGH GP Member" and collectively, the "OCGH GP Members"). In such capacity, the OCGH Members may be deemed indirect beneficial owners of the Common Stock reported herein. Except to the extent of their respective pecuniary interest, if any, each OCGH Member disclaims beneficial ownership of the Common Stock reported herein and the filing of this Form 3 shall not be construed as an admission that any such person is the beneficial owner of any Common Stock covered by this Form 3.

	/s/ See signatures included in Exhibit 99.1	01/26/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

EXHIBIT 99.1

This Statement on Form 3 is filed jointly by Oaktree Fund GP II, L.P., Oaktree
Capital II, L.P., Oaktree Holdings, Inc., Oaktree Capital Group, LLC, Oaktree
Capital Group Holdings, L.P. and Oaktree Capital Group Holdings GP, LLC. The
principal business address of each of these reporting persons is 333 South Grand
Avenue, 28th Fl., Los Angeles, CA 90071.

Name of Designated Filer: Oaktree Fund GP II, L.P.

Date of Event Requiring Statement: January 26, 2012

Issuer Name and Ticker or Trading Symbol: DoubleLine Opportunistic Credit Fund
(NYSE: DBL)

                                       OAKTREE FUND GP II, L.P.

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title: Authorized Signatory

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Authorized Signatory

                                       OAKTREE CAPITAL II, L.P.

                                       By: Oaktree Holdings, Inc.
                                       Its: General Partner

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title: Managing Director and Associate
                                       General Counsel

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Managing Director

                                       OAKTREE HOLDINGS, INC.

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title:  Managing Director and Associate
                                       General Counsel

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Managing Director

                                       OAKTREE CAPITAL GROUP, LLC

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title: Managing Director and Associate
                                       General Counsel

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Managing Director

                                       OAKTREE CAPITAL GROUP HOLDINGS, L.P.

                                       By: Oaktree Capital Group Holdings GP,
                                       LLC
                                       Its: General Partner

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title: Managing Director and Associate
                                       General Counsel

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Managing Director

                                       OAKTREE CAPITAL GROUP HOLDINGS GP, LLC

                                       By: /s/ Richard Ting
                                           ---------------------------
                                       Name: Richard Ting
                                       Title: Managing Director and Associate
                                       General Counsel

                                       By: /s/ Emily Alexander
                                           ---------------------------
                                       Name: Emily Alexander
                                       Title: Managing Director