Howard Marks will undergo treatment for throat cancer,…

Bloomberg — Howard Marks, co-founder of Oaktree Capital Management and considered one of the greatest investors in history, will be treated for a curable type of throat cancer, according to the FinancialTimes.

Marks, 77, will undergo surgery followed by radiotherapy, the British newspaper reported, citing a letter to investors. He plans to return to work “around mid-summer [do hemisfério Norte]”, according to the document.

“I was recently diagnosed with a relatively common form of throat cancer,” the FT wrote, quoting Marks in a May 3 note sent to investors. “Treatment is quite common and the probability of cure in my case (cure, no remission) is estimated between 95% and 99%.”

A representative for Oaktree declined to comment on the report.

Marks founded Oaktree in 1995 with Bruce Karsh and other partners from TCW Group Inc. The Los Angeles-based company is one of the world’s largest investors in defaulted debt and had approximately $172 billion in assets under management at the end of March.

In 2019, Brookfield Asset Management acquired a majority stake in Oaktree and the company operates as an independent business within the Canadian giant’s universe. Marks remains the public face of the company.

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Megan Schneider

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