Oaktree Announces Leadership Evolution

Oaktree Capital Management, L.P. Elevates Robert O’Leary and Armen Panossian to Co-CEOs

Los Angeles, CA – Oaktree Capital Management, L.P., a global investment manager specializing in alternative investments, has announced a leadership evolution that will see Robert O’Leary and Armen Panossian become co-Chief Executive Officers in the first quarter of 2024. They will succeed Jay Wintrob, who will step down as Oaktree’s CEO at the same time.

In their new shared role, O’Leary and Panossian will primarily focus on overseeing the organization and performance of Oaktree’s investment teams while continuing to lead two of Oaktree’s key investment areas. This transition will also see Todd Molz, Oaktree’s General Counsel and Chief Administrative Officer, named Chief Operating Officer, responsible for the day-to-day management of the firm.

The elevation of O’Leary and Panossian reflects Oaktree's commitment to nurturing talent within the organization and ensuring a smooth leadership transition. With a combined experience of 54 years at Oaktree, both individuals have proven themselves as skilled investors and effective leaders.

Commenting on the announcement, Howard Marks, Co-Chairman of Oaktree, said, "We're delighted to elevate these three outstanding, long-tenured Oaktree professionals. With their expertise and commitment to our principles, we are confident that Bob, Armen, and Todd will lead our company into the future."

O’Leary, as Portfolio Manager for the Global Opportunities strategy, brings valuable experience to his new role. He has been with Oaktree since 2002 and has been instrumental in the analysis, portfolio construction, and management of both the Global Opportunities and Value Opportunities strategies. O’Leary's background includes previous roles at McKinsey & Company and Orion Partners, where he focused on private equity investments.

Panossian, as Head of Performing Credit, has played a critical role in overseeing Oaktree's liquid and private credit strategies. Since joining Oaktree in 2007, he has demonstrated his expertise in portfolio management and has led the development of Oaktree's CLO business. Before joining Oaktree, Panossian worked at Pequot Capital Management, where he focused on distressed debt strategies.

Molz, who will assume the role of Chief Operating Officer, has been instrumental in the legal and administrative functions at Oaktree since joining the company in 2006. His extensive expertise in tax and structuring aspects of business transactions brings valuable insights to his new role.

Oaktree's executive committee, comprising Co-Chairmen Howard Marks and Bruce Karsh, Vice Chairman John Frank, and the newly appointed executives, will drive the firm's strategic vision and oversee its operations.

This leadership evolution marks an important milestone for Oaktree as it looks ahead to the future. The organization's commitment to delivering value, rigorous risk management, and maintaining its strong culture will continue to be a priority under the guidance of the new leadership team.

About Oaktree:

Oaktree is a global investment manager specializing in alternative investments, with $172 billion in assets under management as of March 31, 2023. The firm's approach combines opportunistic, value-oriented, and risk-controlled strategies for investments in credit, private equity, real assets, and listed equities. With over 1,100 employees and offices in 20 cities worldwide, Oaktree is dedicated to delivering exceptional performance and long-term value for its investors.

For additional information, please visit Oaktree’s website at [http://www.oaktreecapital.com/](http://www.oaktreecapital.com/).