(Bloomberg) - Howard Marks, Oaktree Capital Management’s co-founder, will have treatment for a curable type of throat cancer, according to the Financial Times.
Marks, 77, will undergo surgery followed by radiation treatment, the newspaper reported, citing a letter to investors. He plans to return to work “around midsummer,” according to the report.
“I was recently diagnosed with a relatively common form of throat cancer,” the FT cited Marks as writing in a May 3 note to investors. “The treatment is pretty routine, and the probability of a cure in my case (cure, not remission) is estimated at between 95% and 99%.”
A representative for Oaktree declined to comment on the report.
Marks started Oaktree in 1995 with Bruce Karsh and other partners from TCW Group Inc. The Los Angeles-based firm is one of the largest distressed-debt investors in the world and had about $172 billion of assets under management at the end of March.
In 2019, Brookfield Asset Management acquired a majority interest in Oaktree and the firm operates as an independent business within the Brookfield universe. Marks remains the public face of the firm.
By Isolde MacDonogh
