Howard Marks Sees Industry Consolidation After Brookfield Tie-Up

Ted

FYI: Howard Marks, whose Oaktree Capital Group LLC agreed to a tie-up with Brookfield Asset Management Inc., said he expects to see more mergers in the industry but not a wave of them.

“I think you will start seeing mergers," Marks, co-chairman of Oaktree, said Thursday in an interview with Erik Schatzker on Bloomberg TV.

Bruce Flatt, chief executive officer of Brookfield, echoed Marks, saying there would be more deals in asset management, but “not that many.”

The combination of Brookfield and Oaktree, announced last week, would create one of the world’s largest alternative money managers, with $475 billion in assets. The deal may appeal to institutional investors looking for a one-stop shop: it bolsters the credit business of Brookfield, which has traditionally focused on real estate, and provides Oaktree exposure to assets that thrive when economies grow.
Regards,
Ted
https://www.bloomberg.com//news/articles/2019-03-21/howard-marks-bruce-flatt-see-more-asset-management-deals-ahead?srnd=markets-vp

hank

As I was saying (a week ago): https://www.mutualfundobserver.com/discuss/discussion/48277/brookfield-to-acquire-62-of-mark-s-oaktree-capital-management-creating-alternative-investing-giant

Old_Joe

Shostakovich

Almost bought OAK about two years ago; "for the dividend", and because of my faith in Marks.

Oy, which might have been (ever play that game ?).