The LSE Directory / Hedge fund managers
Howard Stanley Marks (born 1946) is the co-founder and co-chairman of Oaktree Capital Management, which he established in 1995 with several colleagues from TCW Group, where he had previously built a high-yield and distressed debt business. Oaktree specialises in alternative investments, primarily distressed debt, high yield bonds, convertible bonds, real estate, and private equity, and has grown to manage approximately $192 billion in assets, making it one of the world's largest alternative asset managers. Marks is particularly well-known for his investor memos, which he has been writing since 1990. Originally circulated privately, these memos have gained worldwide readership for their clarity on investment philosophy, market cycles, and behavioural finance. They were collected and systematised in his books 'The Most Important Thing' (2011) and 'Mastering the Market Cycle' (2018). Warren Buffett wrote that when he sees a memo from Howard Marks, it is the first thing he reads. Oaktree was acquired by Brookfield Asset Management in 2019 (Brookfield holds a majority stake), while Marks remains co-chairman.
