Oaktree Capital Management L.P. is a worldwide asset management firm that specializes in alternative investment strategies. It was co-founded in 1995 by individuals who previously worked together at the TCW Group during the 1980s. Oaktree has developed a strong name for itself in the distressed-debt and high-yield markets. As of 2016, it has more than 900 investment professionals and associates working at its headquarters in Los Angeles and 16 other cities around the globe, including New York City, London, Paris, Tokyo, Seoul and Amsterdam.

More About Oaktree Capital Management

Oaktree Capital Management is a subsidiary of Oaktree Capital Group LLC (NYSE: OAK). The latter began trading publicly on the New York Stock Exchange (NYSE) in April 2012. As of the end of 2015, it had nearly $1 trillion in total assets under management (AUM). The firm's clients include a large number of institutional investors, such as foundations, endowments, and sovereign wealth and pension plan funds.

Investment Classes, Vehicles and Strategies

Oaktree uses value-oriented, risk-controlled and opportunistic approaches to a range of investments in corporate and distressed debt, real estate and listed equities, and convertible securities. The firm’s marketable securities investments include high-yield bonds, European high-yield bonds, international and domestic convertible securities, and high-income convertibles.

Oaktree invests in second lien and senior secured debt, senior bank loans and syndicated mezzanine transactions, focusing on syndicated loans below investment grade. In terms of convertible securities, the firm places emphasizes short-term maturity convertibles. With private equity investments, it employs strategies that include emerging market equities, mezzanine financing and energy infrastructure. Middle-market investments include recapitalization, buyouts, turnarounds and business consolidations.

Oaktree aims to invest in a number of specific sectors in emerging market economies, as well as the United States and Europe. Focus sectors include specialty finance, retail, shipping and coal. The firm frequently invests in brand name and consumer products, financial services companies and companies operating in the media sector.

Investment Philosophy

Oaktree's senior executives and investment professionals have maintained a refined investment philosophy since the firm's founding in 1995. These professionals balance several factors to maintain the firm's investment philosophy. These factors include the firm’s central desires to keep risk levels under control, maintain consistently good market performance, create specialized portfolios and primarily follow a bottom-up approach to equity investments based on thorough company-specific research.

Leadership and Investment Staff

Jay Wintrob is Oaktree’s chief executive officer (CEO) and has been a member of the board of directors since 2011. He started his financial services career in 1987, serving as an assistant to the chairman of SunAmerica Inc., and eventually moving on to a number of other executive roles, including president at SunAmerica. Just before joining SunAmerica, he worked at the law firm of O’Melveny & Myers. He earned both his BA and JD degrees from the University of California at Berkeley.

Bruce Karsh is the firm’s chief investment officer (CIO) and a co-founder. He is also a portfolio manager for the firm's distressed opportunities and value opportunities strategies. Prior to founding Oaktree in 1995, he was a managing director at TCW Asset Management Company and a portfolio manager of the firm’s special credits funds from 1988 to 1995. He has a bachelor’s degree in economics from Duke University, where he graduated summa cum laude. He went on to obtain a JD degree from the University of Virginia School of Law.

Raj Makam joined Oaktree in 2001 and is a managing director and co-portfolio manager of the firm’s mezzanine finance group, having been with this group since its inception. Prior to joining the firm, Makam worked at Banc of America Securities LLC in its high-yield/leveraged finance group. He graduated from the Bangalore Institute of Technology, India with a BS in engineering. He later received his MS in engineering from the University of Akron and an MBA in finance from Yale University.

Julio Herrera is a managing director and the portfolio manager of Oaktree’s emerging markets opportunities and emerging markets total return strategies. Prior to joining the firm in 2012, he was president of Fintech Advisory Inc., a family-style advisory firm that specializes in distressed assets from emerging markets. He also has prior financial services experience working at Lehman Brothers and at RRH Capital Management. He graduated from the University of California at Los Angeles with a bachelor’s degree.

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