Dinner & Fireside Chat with Howard Marks, Oaktree Capital

Since the formation of Oaktree in 1995, Mr. Marks has been responsible for ensuring the firm’s adherence to its core investment philosophy; communicating closely with clients concerning products and strategies; and contributing his experience to big-picture decisions relating to investments and corporate direction. From 1985 until 1995, Mr. Marks led the groups at The TCW Group, Inc. that were responsible for investments in distressed debt, high yield bonds, and convertible securities. He was also Chief Investment Officer for Domestic Fixed Income at TCW. Previously, Mr. Marks was with Citicorp Investment Management for 16 years, where from 1978 to 1985 he was Vice President and senior portfolio manager in charge of convertible and high yield securities. Between 1969 and 1978, he was an equity research analyst and, subsequently, Citicorp's Director of Research. Mr. Marks holds a B.S.Ec. degree cum laude from the Wharton School of the University of Pennsylvania with a major in finance and an M.B.A. in accounting and marketing from the Booth School of Business of the University of Chicago, where he received the George Hay Brown Prize. He is a CFA® charterholder. Mr. Marks is an Emeritus Trustee and member of the Investment Committee at the Metropolitan Museum of Art. He is a member of the Investment Committee of the Royal Drawing School and is Professor of Practice at King’s Business School (both in London). He serves on the Shanghai International Financial Advisory Council and the Advisory Board of Duke Kunshan University. He is an Emeritus Trustee of the University of Pennsylvania, where from 2000 to 2010 he chaired the Investment Board.

Steven Tananbaum is Founder, Managing Partner and Chief Investment Officer of GoldenTree Asset Management, overseeing the firm’s investments across all fund offerings. In addition, Mr. Tananbaum is the Lead Portfolio Manager for the Master Fund and Distressed Fund strategies, as well as a Lead Portfolio Manager for GoldenTree Loan Management and other fixed income oriented strategies. Mr. Tananbaum chairs GoldenTree Asset Management’s Executive Committee and Distressed Committee. Mr. Tananbaum is also a member of GoldenTree’s Private Credit Committee.

A veteran of the credit markets with over 35 years of investing experience, Mr. Tananbaum founded GoldenTree in 2000 and was instrumental in building the firm into an organization that is highly regarded for its investment process and partnership culture. Known for its focus on fundamental and relative value analysis, GoldenTree has produced strong competitive returns across product lines since its inception. The firm has grown into an organization of 24 partners, over 290 employees and over $51 billion of assets under management.

GoldenTree’s strength in the industry has been recognized recently by numerous awards, such as Best Credit-Focused Hedge Fund Manager by Institutional Investor, Best Distressed Debt and Special Situation Investor by Private Debt Investor, and Emerging Markets Manager of the Year by European Pension. The firm’s flagship strategy has also been recognized as Best Billion Dollar Fund by HFM, and each vintage of the firm's distressed funds has been awarded best in their vintage by a variety of media outlets including Hedgeweek, HFM, and Absolute Return. In 2023, Mr. Tananbaum received HFM’s US Outstanding Industry Achievement award, recognizing how he has helped progress and define the spirit of the industry through both his professional accomplishments and his philanthropic leadership.

Prior to forming GoldenTree, Mr. Tananbaum spent over a decade at MacKay Shields. He was head of the firm’s high yield group beginning on June 1, 1991 and, in 1997, founded its hedge fund business and served as the lead portfolio manager. Under Mr. Tananbaum’s leadership, MacKay Shields’ high yield mutual funds were rated in the top 5% by Lipper from June 1, 1991 through December 31, 1999. He also received two 5-year Lipper awards for funds managed during his time at MacKay. Prior to joining MacKay Shields, Mr. Tananbaum worked primarily on high yield and merger & acquisition transactions in the corporate finance department of Kidder, Peabody & Co. He is a graduate of Vassar College with a B.A. in Economics. Mr. Tananbaum is a CFA charterholder. He is a Member of the Board of Trustees of The Museum of Modern Art and a Member of the Council on Foreign Relations.

Edward Sassower serves on the Firm’s Executive Committee and is a partner in the Restructuring Group. He focuses on representing debtors, creditors and distressed or special situation investors in bankruptcy cases, out-of-court restructurings and acquisitions.

Described as a “charismatic leader and rainmaker of the restructuring group,” Edward has consistently been recognized by Chambers USA, America’s Leading Lawyers for Business and Chambers Global, The World’s Leading Lawyers for Business. Most recently, clients praised him as a “superb leader” and “the maestro of the bankruptcy practice.” Sources noted that he is “a very smart business strategist” that “drives the Firm forward” and “his oversight and involvement is invaluable.” In prior editions, interviewees described Edward as “one of those rare people who comes along once in a while who has a legal mind and a business mind.” He’s also been described as a “master strategist and brilliant technician” who “demonstrates incredible creativity” with “both a brilliant and commanding understanding of the law as well as a complete and thoughtful view of business” noting that his “ability to build consensus and to coalesce the group around important issues was stunning.” Client and peer quotes have also described Edward as a “really talented and very savvy deal-maker” with “deep relationships in the bankruptcy community” and praised him for his “command of a board of directors,” “tremendous credibility in the courtroom,” and his focus on “delivering a great job for his clients.” Client and peer quotes also commend Edward on his “leadership to clients who have never experienced the complexity and intensity of bankruptcy” noting he “has the ability to see the big picture of the case at all times and can anticipate the next several steps necessary to keep the case on track.” Interviewees praised Edward for his “great understanding of the impact of decisions on business” and his ability to “facilitate communication and dialogue and provide leadership,” while having “a good relationship with other professionals that transcends the adversarial aspects of cases.”

Edward has also consistently been recognized in The Legal 500 U.S. Client and peer quotes praise Edward for being a “tireless advocate with a highly evolved understanding of what matters to financial clients,” a “true business-savvy deal lawyer who knows when to fight and when to negotiate” and “as good as it gets in the bankruptcy area.”

In 2016, Edward was selected by Law360 as an “MVP,” three years after naming him a “Rising Star” in 2013.

In 2013, Edward was selected by Turnarounds & Workouts as an “Outstanding Restructuring Lawyer,” five years after naming him an “Outstanding Young Restructuring Lawyer” in 2008.

In 2013, Edward was selected to the UJA-Federation of New York's first ever 40 Under 40 Industry Leaders list, an initiative that recognizes a prominent group of accomplished professionals spanning many industries.

Edward is also an Adjunct Full Professor of Finance at The Wharton School of the University of Pennsylvania where he teaches the “Corporate Restructuring” course every Fall.

Edward serves on the boards of numerous charities including UJA – Federation of New York

With three decades worth of tech industry leadership experience from both the private and public sectors, Avi steers the organizations strategy and day-to-day activities. Before joining Start-Up Nation Central, Avi spent more than a decade as an early-stage investor adventure capital firms Gemini Israel Funds and Emerge, identifying promising startups and helping them scale. Between 2011 and 2017he served as Chief Scientist at Israel's Ministry of Economy and Industry and as the Founding Chairman of the Israel Innovation Authority (IIA), a key government driver of Israel’s tech explosion over the past decade. In addition to sitting on the board of Tower Semiconductor (which Intel recently announced it would be acquiring), nowadays he shares his deep knowledge of the Israeli innovation ecosystem as a board member of organizations such as Sheba Medical Center and SpaceIL. Avi completed his B.A. in Economics and Middle Eastern Studies and his MBA at Tel Aviv University

Shaya Lesches is Co-founder and Director of Young Jewish Professionals (YJP), a nonprofit dedicated to creating and promoting targeted business and educational opportunities that accelerate the career success of New York City’s Jewish business community. The organization, founded in 2008, has fostered unparalleled peer-to-peer learning and professional leadership platforms across the NYC business scene. YJP has succeeded in creating a world-class community connecting the nation’s top business leaders with aspiring young professionals through YJP’s innovative network.

An entrepreneur at heart, Shaya also founded Australian Kosher Winery in his native Australia. In 2018, Shaya established the YJP Center for Leadership, the world’s first Jewish Business Leadership Center located in the heart of Manhattan’s Union Square.

Shaya is also a founding member of the Rambam Foundation, a not-for-profit organization in connecting the world’s top Jewish business leaders, physicians and investors to accelerate innovation in healthcare delivery through cross functional collaborations.

Rabbi Lesches currently serves as a Trustee of the West Side Jewish Center in Manhattan. He currently resides in Manhattan with his wife and six children.