Oaktree Capital’s Howard Marks to undergo cancer treatment
Howard Marks, the 77-year-old co-founder of $172bn funding group Oaktree Capital Administration, has been recognized with a curable type of throat most cancers and can endure surgical procedure adopted by radiation therapy.
“I used to be not too long ago recognized with a comparatively widespread type of throat most cancers,” Marks wrote in a notice to traders dated Could 3. “The therapy is fairly routine, and the likelihood of a treatment in my case (treatment, not remission) is estimated at between 95 per cent and 99 per cent.”
Marks arrange Oaktree in 1995 with Bruce Karsh, the group’s chief funding officer, and three others. It has expanded past its roots in distressed debt and now runs cash throughout credit score, non-public fairness, actual property and listed equities.
Marks is the general public face of Oaktree, travelling the world speaking to purchasers and setting the corporate’s funding philosophy and macroeconomic positioning.
He has carved out a fame as an unequivocal contrarian and intently adopted observer of market psychology, recognized for his in style funding memos, that are acquired by 200,000 or so folks, together with Warren Buffett.
“I’m assured figuring out Oaktree and its purchasers can be within the very competent palms of my colleagues throughout my absence,” Marks wrote within the notice, saying that he anticipated being “totally again in motion round midsummer”.
He added: “I’ve no fear that we’ll miss a step. This little bit of ‘upkeep’ is nothing however a pure a part of ageing . . . a course of I count on to be engaged in, working with you, for a few years to come back.”
Oaktree confirmed the contents of the memo.