your password has been reset successfully, Please login again.

Bruce Flatt Wants Oaktree Capital’s Co-founder to Continue Investing

Brookfield Asset Management’s CEO wishes Howard Marks, Co-founder of Oaktree Capital, to continue doing his investment task.
BY BEx Bureau
BusinessEx
May 18, 2019

Brookfield Asset Managements CEO wishes Howard Marks, Co-founder of Oaktree Capital, to continue doing his investment task.

In March 2019, the Canada-based asset management company heralded that it would take major shareholdings in Oaktree Capital. Theres speculation that Bruce Flatt, CEO of Brookfield, become a successor of Oaktree Capital, following Howard Marks.

Marks is essentially known in the investment sphere for writing memorandums to Oaktree Clientele. He has been writing these memos since the 1990s and also, includes Warren Buffett as one of the keen readers.

"We want Mr Marks to keep doing what he does, we want him to keep writing his letters. He didn't quite commit to 25 years but I told him 25 years would be helpful," Bruce Flatt, CEO of Brookfield, told the international daily news, Reuters.

Flatt told that the Canadian asset management firm, BAM which has agreed to procure 62 per cent shares in Oaktree Capital for the sum $4.8 Billion, does not have any further plans to procure assets as of now.

Furthermore, Flatt said the company does not plan to increment its shares to 100 per cent, though it can do so as per the Concord after 2022.

"We weren't interested in a 100 per cent of the company because we wanted them to run the business and we wanted them to remain with the business to keep their stake. Our goal is to keep the Oaktree brand to continue those strategies within Oaktree and differentiate them in that way," Flatt said.

Please add your Comment
SIMILAR News
October 21, 2019
The company plans to employ fresh funds to establish a second campus in Mumbai by the end of this ye ...More
By Jaspreet Kaur
October 21, 2019
Following the investment, the Tamil Nadu-based firm, Dindigul Thalappakatti is pegged at around INR ...More
By Jaspreet Kaur
October 19, 2019
Elores is essentially a novel drug combination that helps to treat life-threatening infections. ...More
By Jaspreet Kaur
October 18, 2019
Black Coat Technologies Pvt. Ltd has recently obtained INR 3.5 crore in a seed funding round from a ...More
By Jaspreet Kaur
October 18, 2019
Remedico is essentially a component of Venture Catalysts’ focused healthcare accelerator, Healthcare ...More
By Jaspreet Kaur
October 17, 2019
BASF is reportedly collaborating with partner firms to assess the feasibility of petrochemical compl ...More
By Jaspreet Kaur
October 17, 2019
With this funding round, the company has gathered INR 70 crore funds to date. ...More
By Jaspreet Kaur
October 14, 2019
Singapore-headquartered e-commerce company, Shopmatic Pte Ltd has wholly acquired SaaS startup, Comb ...More
By Jaspreet Kaur
October 14, 2019
CarDekho, the online platform has created an ecosystem to help its consumers to buy and sell cars ef ...More
By Jaspreet Kaur
October 10, 2019
The company targets on middle, as well as low income demographic, relating to Tier-II and Tier-III c ...More
By Jaspreet Kaur
October 09, 2019
Kosha, which was incorporated in 2017, renders designed clothes for adventurous tours via technology ...More
By Jaspreet Kaur
October 09, 2019
This will also aid in delivering substantial synergies for expanding its lamp business and product o ...More
By Jaspreet Kaur