Oaktree’s Marks Sees ‘Great Bargains’ Coming as Recession Looms
- Firm’s co-founder says a lot of distressed firms will emerge
- Marks expects interest rates to stay near 5% for 5-10 years
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Oaktree Capital Group LLC co-founder Howard Marks is gearing up for one of the best buying opportunities since the global financial crisis as higher interest rates and a looming recession push more companies into distress.
After settling for “moderate” returns partly due to cheap credit in the past few years, the Los Angeles-based firm with about $163 billion in assets is looking to finance those companies struggling to repay debt.