Brookfield CEO counts on Oaktree's Marks to carry on investing [Reuters]
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Source: Reuters
Brookfield CEO counts on Oaktree's Marks to carry on investing - Reuters 3 Min Read * Intends to keep Oaktree brand; not to be 100% owner * Wants Marks to continue his investment work, memos * Business is “quite complete”, no plan to buy more for now * Asia-Pacific growing fast, to reach 25% of total long term By Tomo Uetake and Hideyuki Sano TOKYO, May 17 (Reuters) - Brookfield Asset Management’s (BAM) chief executive wants Howard Marks, the veteran distressed debt guru and co-founder of Oaktree Capital, to continue his investment work, including his letters to clients, for years to come. BAM announced that it will take a majority stake in Oaktree in March, with the surprise move sparking speculation that Brookfield’s chief executive Bruce Flatt could become an heir to Oaktree’s 73-year-old investing “legend”. Known in investment circles for his “memos to Oaktree clients”, which he has been writing since the 1990s, Marks counts Warren Buffett as one of his most avid readers. “We want
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