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B. G., Opalesque Geneva: Global investment manager Oaktree Capital Management, L.P. is shaking things up in the upper management echelon while it expects a different economic environment to come.
Oaktree will promote Robert O'Leary, portfolio manager for the Global Opportunities strategy, and Armen Panossian, head of performing credit, to the role of co-CEOs in Q1-2024. They will succeed Jay Wintrob, who will step down as CEO at the same time.
In their shared role, Mr. O'Leary and Mr. Panossian will primarily focus on overseeing the organization and performance of Oaktree's investment teams, while continuing to lead two of Oaktree's key investment areas, according to the announcement. Oaktree, which is headquartered in Los Angeles, CA, specialises in alternative investments and has $172bn in AuM as of March 31, 2023.
As part of this transition, Todd Molz, Oaktree's General Counsel and chief administrative officer, will be named chief operating officer and will oversee the day-to-day management of the firm, with all non-investment functions reporting to him.
All three will join co-chairmen Howard Marks and Bruce Karsh, and vice chairman John Frank on Oaktree's executive committee.
"We're delighted to elevate these three outstanding, long-tenured Oaktree professionals. With 54 years of combined experience at the fir...................... To view our full article Click here
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