Steve Kaplan Steps Down from Board and Transitions to Advisory
LOS ANGELES--(BUSINESS WIRE)--Oct. 28, 2016--
Oaktree Capital Group, LLC (NYSE: OAK) today announced the appointment
of Steven Gilbert to its Board of Directors, effective as of October 24,
2016. Mr. Gilbert is the founder and Chairman of the Board of Gilbert
Global Equity Partners, L.P., an institutional investment firm.
Commenting on Mr. Gilbert’s appointment, Howard Marks, Oaktree’s
Co-Chairman, said, “Over three decades, Steve has had an impressive
career in private equity investing, investment banking, investment
management and law. Additionally, he has owned and operated businesses
as well as served as a corporate director for numerous companies. We are
excited to welcome Steve to our board and look forward to benefiting
from his insight and experience.”
“It is a privilege to be joining Oaktree’s Board of Directors, and I am
excited to have the opportunity to take part in overseeing and
supporting the progress of this premier alternative investment firm,”
said Mr. Gilbert. “I look forward to working alongside the firm’s highly
regarded management team to continue building on Oaktree’s success.”
In addition to founding Gilbert Global Equity Partners in 1997, Mr.
Gilbert founded Soros Capital, Commonwealth Capital Partners, and
Chemical Venture Partners. He currently serves as Vice Chairman of the
Executive Board of MidOcean Equity Partners, LP and Co-Chairman of Birch
Grove Capital, and has served on the boards of more than 25 companies
over the span of his career. Mr. Gilbert received a J.D. degree from
Harvard Law School, an M.B.A. from Harvard Business School, and a B.S.
in Economics from the Wharton School of the University of Pennsylvania.
Oaktree also announced that Steve Kaplan, Director, Principal, and
founder of Oaktree’s Global Principal Group, has decided to retire to
pursue his personal interests and will transition to serving as an
Advisory Partner to the firm. Mr. Kaplan will assume his new role and
step down from Oaktree’s Board of Directors, effective December 31, 2016.
Commenting on Mr. Kaplan’s retirement, Bruce Karsh, Oaktree’s
Co-Chairman and Chief Investment Officer, said, “Steve has been an
invaluable contributor to the firm’s investment activity over the past
21 years. We are pleased that we will continue to benefit from Steve’s
experience, expertise and knowledge through his role as an Advisory
Partner moving forward.”
Prior to joining Oaktree in 1995, Mr. Kaplan served as a managing
director of TCW and portfolio manager in the TCW Special Credits Group.
He currently serves on the boards of Regal Entertainment Group,
AdvancePierre Foods, Townsquare Media, Inc., and several private
companies and nonprofit organizations, including the UCLA Jonsson
Comprehensive Cancer Center Foundation and the New York University
School of Law Foundation.
Oaktree is a leader among global investment managers specializing in
alternative investments, with $100 billion in assets under management as
of September 30, 2016. The firm emphasizes an opportunistic,
value-oriented and risk-controlled approach to investments in distressed
debt, corporate debt (including high yield debt and senior loans),
control investing, convertible securities, real estate and listed
equities. Headquartered in Los Angeles, the firm has over 900 employees
and offices in 18 cities worldwide.
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Source: Oaktree Capital Group, LLC
Oaktree Capital Group, LLC
Sard Verbinnen & Co