John Brady joined Oaktree Capital Management as a managing director and head of its global real estate group, Mr. Brady confirmed. He will lead the firms efforts to revamp its real estate investment strategy. Well be focusing on larger transactions with more institutional partners and lending sources, he said. Well be fund raising in the later half of 2007. Mr. Brady replaces Russel S. Bernard, who left to form Westport Capital Partners, where he is managing partner. Mr. Brady was a principal at real estate investment firm Colony Capital; his duties there will be handled by the remaining 11-member acquisitions team headed by Darren Tangen, vice president, said Owen Blicksilver, Colony spokesman.