The Insight by Oaktree Capital 30 Years of Oaktree
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May 6, 2025 The co-founders reflect on the origins and growth of their firm over three decades. They share humorous stories about the initial naming and financing inspired by light-hearted dinner conversations. Pivotal moments in creating a distressed debt fund highlight personal philosophies on work-life balance. Insights into their $10 million start and the unexpected success without a strict profit plan reveal the importance of company culture. They reminisce about their teamwork, lasting relationships, and the journey ahead, comparing it to savoring a meal at a favorite restaurant.
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Origin of Oaktree Idea
- Bruce Karsh initiated meeting Howard Marks to pitch a distressed debt fund idea he conceived at Sun America.
- Howard liked the idea, introduced Sheldon Stone, and hired Bruce, leading to the founding of Oaktree.
Starting Oaktree Firm
- The idea to start Oaktree came up during a dinner in Brentwood with the Karsh and Marks families in 1994.
- Howard and Bruce quickly agreed to start the firm, then Sheldon was approached as the first hire.
Origin of 'Oaktree' Name
- The code name 'Oak Tree' came from a desire to use the Spanish word for oak referring to Howard's property.
- They mistakenly spelled it "Oaktree" as one word, which stuck as the firm name.