Larry Keele, Head of Oaktree's U.S. Convertibles Strategy, to Retire in June

Stu Spangler Appointed Co-Portfolio Manager of U.S. Convertibles Strategy; Will Assume Full Portfolio Manager Duties on June 30

LOS ANGELES--()--Oaktree Capital Group, LLC (NYSE: OAK) today announced that Larry Keele, head of the firm’s U.S. Convertibles strategy, has decided to retire from Oaktree effective June 30, 2015 to pursue his personal interests full-time. Effective immediately, Stu Spangler, Managing Director, who has been a member of Oaktree’s Convertibles team since 1997 and backup portfolio manager since 2011, will serve as co-portfolio manager of the U.S. Convertibles strategy alongside Mr. Keele through June 30 to ensure a smooth transition, assuming full portfolio manager duties thereafter. Mr. Keele will remain a member of Oaktree’s Board of Directors.

“As a founding member of Oaktree, Larry has been an invaluable contributor to the firm’s performance, culture and growth over the past 20 years,” commented Howard Marks, Co-Chairman. “We worked together for many years before we started Oaktree, and I speak for the entire firm when I say he will be missed greatly in the day-to-day operations. We are pleased that the firm will continue to benefit from his experience, expertise and knowledge of Oaktree in his role as a member of our Board of Directors.”

“Oaktree’s U.S. Convertibles strategy is one of our oldest, and we thank Larry for his many contributions in creating and broadening the strategy over the years,” said Bruce Karsh, Co-Chairman and Chief Investment Officer. “Among other things, Larry has excelled at developing the members of the Convertibles team, who collectively average nearly 15 years at Oaktree. Stu has served as Larry’s right hand and back-up portfolio manager since 2011. The team will continue its disciplined approach to investing under Stu, in whom we have full confidence.”

Mr. Spangler joined Oaktree in 1997 after serving as a convertible securities portfolio manager for Aon Corp., a global provider of insurance and consulting services. Mr. Spangler holds a B.S. degree in Business Management from the U.S. Air Force Academy, and is a CFA charterholder.

“I am extraordinarily proud of our record in managing convertible securities and of the firm we have built since 1995,” said Larry Keele. “While I have decided it’s the right time to step down from my day-to-day role, I look forward to continuing to advise on the firm’s strategic direction as a member of the Board of Directors, and to participating in Oaktree’s future growth and success.”

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $93.2 billion in assets under management as of September 30, 2014. 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 17 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Contacts

Investor Relations:
Oaktree Capital Group, LLC
Andrea D. Williams, 213-830-6483
investorrelations@oaktreecapital.com
or
Press Relations:
Sard Verbinnen & Co
John Christiansen, 415-618-8750
jchristiansen@sardverb.com
or
Carissa Felger, 312-895-4701
cfelger@sardverb.com

Contacts

Investor Relations:
Oaktree Capital Group, LLC
Andrea D. Williams, 213-830-6483
investorrelations@oaktreecapital.com
or
Press Relations:
Sard Verbinnen & Co
John Christiansen, 415-618-8750
jchristiansen@sardverb.com
or
Carissa Felger, 312-895-4701
cfelger@sardverb.com