Oaktree Looks to China, Private Debt Amid Distressed Drought
- Firm’s Howard Marks calls distressed-debt investing a struggle
- Boom in risky debt may lead to more opportunities in downturn
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Oaktree Capital Group Co-Founder Howard Marks is seeking more distressed debt opportunities in China amid few places to put cash to work in the U.S.
The investment firm, one of the biggest buyers of debt in companies that are struggling or already in bankruptcy, has been scooping up non-performing loans in China as dozens of companies struggle to repay debt.