Howard Marks to undergo treatment for throat cancer, FT reports

(Bloomberg) — Oaktree Capital Management co-founder Howard Marks will undergo treatment for a curable type of laryngeal cancer, according to the Financial Times.

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Marks, 77, will undergo radiation therapy following surgery, the newspaper reported, citing a letter to investors. Reportedly, he plans to return to his job “around the height of summer.”

“I was recently diagnosed with a relatively common form of laryngeal cancer,” the FT quoted Marks as writing in a May 3 investor memo. “Treatment is routine, and the odds of cure (cure, not remission) in my case are estimated to be between 95% for him to 99% for him.”

A representative for Oaktree declined to comment for this report.

Marks started Oaktree in 1995 with Bruce Karsh and other partners at TCW Group Inc. The Los Angeles-based firm is one of the world’s largest bad debt investors, with assets under management of about $172 billion at the end of March.

In 2019, Brookfield Asset Management acquired a majority stake in Oaktree, which operates as a separate business within the Brookfield Universe. Marks will continue to be the public face of the company.

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