Deals
Oaktree’s Marks Says Europe Better Bet Than ‘Highly Priced’ U.S.
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Howard Marks, co-chairman of the world’s biggest distressed-debt investor, Oaktree Capital Management, said Europe has become more attractive than the U.S. even with “virtually all assets trading above their intrinsic value.”
“Europe is offering us somewhat better opportunities,” Marks, 69, said in an interview in London. “We are seeing some opportunities that -- on a like-for-like basis -- offer better risk-adjusted returns than in the U.S. at the moment.” The firm has 140 employees in the U.K. capital looking for deals compared with three in 1998, he said.