Oaktree’s Marks Says Share Sale Was Humbling Experience

Howard Marks, whose Oaktree Capital Group LLC has declined 3.1 percent after raising less than sought in an initial share sale last month, said going public was a humbling experience.

“It was very challenging,” Marks said of the IPO, citing declining markets during the firm’s roadshow, a nine-day pitch to investors leading up to the offering. “We had to do a small deal at the bottom end of the range. You have to accept that you’re not a master of the universe, and that these things are not within your control.”