Howard Marks (霍華德·馬克斯)

In his latest memo, Howard Marks discusses the evolution of the sub-investment grade credit market from its beginnings in the 1970s to its present state. He focuses on the rise of direct lending following the Global Financial Crisis, identifying the reasons for its fast growth but also the issues created by rapid capital deployment. Looking ahead, he describes the entwined fates of direct lending

David Haber speaks with Tony James about building enduring firms across multiple eras of finance. From joining DLJ when it was a subscale firm to helping grow Blackstone into one of the largest asset managers in the world, James reflects on the decisions, structures, and cultural principles that enabled long-term success. They discuss the origins of leveraged buyouts, the evolution of private mark

In his latest memo – occasioned by massive changes he cites in just the 11 weeks since the last one – Howard Marks revisits the subject of AI, providing his observations on its essence and how it differs from previous technological innovations. He highlights AI’s immense power, speed, and autonomy; its limitations; and its potential implications for investing. He expresses conviction that AI is fa

Bob O’Leary (Co-CEO and Portfolio Manager, Global Opportunities) and Armen Panossian (Co-CEO and Head of Performing Credit) shared their assessment of market dispersion in a recent webcast held for Oaktree clients. They discussed the state of the private and liquid credit markets and the ways to navigate an environment characterized by increasing bifurcation into winners and losers. Listen to an e

(0:00) Jason and Chamath welcome SEC's Paul Atkins and CFTC's Michael Selig (0:53) Atkins on how US markets have changed over his 40 year career (3:04) Top priorities across both agencies: Fixing the IPO drought, crypto regulation, cutting unnecessary rules (8:16) AI trading bots, autonomous hedge funds, and investing with leverage (15:30) Ending the "Turf War" between the SEC and CFTC, super app

Get the latest on the European economic backdrop and the state of its private and liquid credit markets with Nael Khatoun (Portfolio Manager, European Private Debt), Madelaine Jones (Portfolio Manager, European High Yield Bonds and Senior Loans), and Suzana Perić (Co-Head of Sourcing & Origination).

The timeless act of reading allows us to pause, reflect, and often uncover valuable insights or deeper understanding amid an ever-evolving landscape. Watch this video to hear about Oaktree’s 2025 Year-End Book Recommendations from this year’s contributors. Click here to explore ten books that provided Oaktree team members with meaningful lessons in 2025: https://www.oaktreecapital.com/insights/ins

Private credit remains coveted by income-seeking investors, offering attractive yields and low volatility, but the quality of underwriting has recently come under scrutiny. In the latest episode of The Insight: Conversations, Brook Hinchman (Co-Head of North America, Global Opportunities), Christina Lee (Co-Portfolio Manager, U.S. Private Debt), and Matt Pendo (Head of Corporate Development and Ca

In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?” He identifies the uncertainty associated with AI investments and the conspicuous parallels to previous bubbles, while also acknowledging why those comparisons could be inappropriate. Given AI’s vast potential but numerous unknowns, no one can say for certain whether investors’ current enthusiasm is merit

The private and liquid credit markets are settling into a symbiotic coexistence, as distinctions blur between the two. Against this backdrop, we believe the decision for many investors shouldn’t be between private or liquid credit, but instead around the most effective way to gain exposure to these complementary markets. Join Armen Panossian (Co-CEO and Head of Performing Credit), Raghav Khanna (C

Oaktree and Brookfield came together for the annual NYC 9/11 Memorial Stair Climb, honoring the firefighters who made the ultimate sacrifice and supporting their families through the National Fallen Firefighters Foundation. For more information about Oaktree's Our Communities Matter program, visit our website: https://www.oaktreecapital.com/responsibility/philanthropy

In his latest memo, Howard Marks examines the recent string of well-publicized credit problems. He considers how they serve as a reminder that the yield premium offered by sub-investment grade credit isn’t a freebie, but rather compensation for bearing credit risk. While good times lead to complacency and elevated risk tolerance, bad times expose the results of that carelessness. Howard emphasizes

CNBC’s Money Movers team discusses the Fed’s latest interest rate cut and whether there are cracks in the credit markets with David Rosenberg, Head of Liquid Performing Credit and Co-Portfolio Manager at Oaktree Capital Management. (Recorded on October 30, 2025) Legal Information and Disclosures: This communication expresses the views and opinions of the participants as of the date it was recorded

How are private and liquid credit evolving into complementary forces? And how can combining these two distinct but interlinked markets be of benefit to both investors and issuers? In an in-depth conversation, Armen Panossian (Co-CEO and Head of Performing Credit), Raghav Khanna (Co-Portfolio Manager, Strategic Credit), and Danielle Poli (Assistant Portfolio Manager, Global Credit) discuss the impl