Credit-investing giant Oaktree Capital Management is elevating the leaders of two of its businesses to the position of co-chief executive officer.
The Los Angeles firm, which manages about $172 billion in assets, is naming Robert O’Leary and Armen Panossian co-CEOs, according to people familiar with the matter. They will succeed Jay Wintrob, 65 years old, who was named CEO in 2014 and will leave the firm.
O’Leary, 52, has been portfolio manager of Oaktree’s flagship Global Opportunities strategy. Previously known as Distressed Opportunities, the unit focuses on providing capital to credit-constrained companies, investing in out-of-favor industries and backing management groups with sights on undervalued assets. In 2021, the firm said it finished raising a $15.9 billion fund for the strategy, its largest vehicle to date.
Read the full story on The Wall Street Journal here.