HM
Howard Marks
Co-Chairman & Co-Founder at Oaktree Capital Management
· New York City Metropolitan Area, United States
Check size
Undisclosed
Lead stage
Growth
Deals tracked
13
Sectors
Credit, Private Equity
Credit
Private Equity
Real Assets
Listed Equities
Distressed Debt
High Yield Bonds
Growth
Mature
Public Markets
Distressed Debt
Global
United States
Denmark
About Howard
Howard Marks is a renowned investor and co-founder of Oaktree Capital Management, one of the world's leading alternative investment firms. He serves as Executive Chairman and has built a career spanning decades in distressed debt, credit, and opportunistic investing. Marks is recognized for his disciplined, value-oriented investment philosophy and his influential market commentary through client memos
Investment thesis
Value exerts a magnetic influence on price; invest against herd mentality and focus on risk management
Oaktree Capital Management, co-founded and co-led by Howard Marks, deploys capital across credit, private equity, real assets, and listed equities using a value-oriented, opportunistic, and risk-controlled approach. Marks emphasizes contrarian investing—seeking opportunities when markets misprice risk—combined with rigorous fundamental analysis and margin of safety principles. The firm invests across the capital structure with expertise in distressed debt, high-yield bonds, and convertible securities, focusing on identifying undervalued assets and managing downside risk. Marks' philosophy prioritizes understanding business fundamentals, avoiding herd-driven decisions, and maintaining disciplined risk management across market cycles
Investment philosophy
Howard Marks' investment philosophy centers on the principle that value exerts a 'magnetic' influence on price, meaning high valuations presage low subsequent returns and vice versa. He emphasizes second-level thinking, integrity, and the critical importance of weighing the risk of losing money against the risk of missing an opportunity. His approach advocates going against herd mentality, sticking with good businesses, and removing emotions from investment decisions to rely on hard facts.
Investment focus
Marks focuses on distressed and opportunistic credit investments, leveraging deep fundamental analysis and contrarian positioning. His thesis emphasizes buying assets when prices reflect excessive pessimism, with particular strength in debt securities and special situations
Areas of expertise
Recent activity
Live platform data · proprietary, citable layer
Notable portfolio
Torm Plc
Chesapeake Energy Corporation
Vistra Corp
Garrett Motion Inc
Star Bulk Carriers Corp
Runway Growth Finance Corp
Sitio Royalties Corp
NMI Holdings Class A
Notable deals
Oaktree Capital Management – Co-founder and builder of $170B+ AUM alternative investment platform
Distressed debt investments across multiple cycles – Positioned through 2008 financial crisis and subsequent recoveries
Credit and special situations – Core focus across corporate debt, mortgages, and opportunistic restructurings
Frequently asked
Does Howard Marks invest at Growth stage?
Yes. They invest at Growth, Mature, Public Markets stage.
Their geographic focus includes Global, United States, Denmark.
What is their typical check size?
Check size is not publicly disclosed. They currently invest through Oaktree Capital Management.
What sectors does Howard Marks focus on?
Howard Marks primarily invests in Credit, Private Equity, Real Assets, Listed Equities.
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