Steve Prado

Oaktree Capital Management (OCM) focuses on investments in less efficient markets and alternative investments. The firm employs a proprietary, bottom-up investment approach. They use overall portfolio structuring as a defensive tool to help avoid dangerous concentration. The firm tends to invest in companies in the energy minerals, consumer non-durables and finance sectors. OCM invests globally across all market-caps and maintains a medium turnover rate. Their strategies include: convertibles, high yield bonds, private equity, real estate, distressed debt and emerging markets listed equities. OCM's bottom-up approach to investing in convertibles emphasizes identifying those which are likely to capture a high percentage of the appreciation of the stocks into which they are convertible while exposed to a lower percentage of any declines which may occur. The firm manages three convertibles strategies that focus on different regions and market sectors: US, international and high income. The firm's approach to high yield bond seeks the potential high yields offered by these bonds with as little risk as possible. Their high yield portfolios purchase only the debt of solvent US and Canadian corporations with a focus on senior, cash-paying securities and thorough diversification. OCM offers strategies that focus on US and European high yield bonds, as well as a high yield plus strategy, senior bank loans strategy, a European senior loans strategy and a mezzanine finance strategy. All of OCM's strategies employ fundamental credit analysis with a bias toward risk control. OCM's distressed debt investment approach seeks to combine the protection against loss that comes from buying claims on assets at bargain prices with the substantial gains achievable from returning companies to financial viability through restructuring. The firm offers two distressed debt strategies: distressed opportunities and value opportunities. The firm's private equity strategies combine a traditional private equity approach with a distress-for-control approach. The firm invests at any level of the capital structure and the use of leverage is limited. In addition to their main private equity strategy, OCM also manages strategies that focus on investments in Europe, Asia and power infrastructure. The firm makes opportunistic, bargain-oriented real estate investments with emphasis on smaller, less prominent transactions. They diversify investments thoroughly and limit the use of leverage. OCM targets a variety of global opportunities including direct property investments, corporate investments, undervalued debt, real estate-related equity securities and real estate development. Their real estate strategies emphasize risk control while focusing on the following areas: distress, inefficiency, value added and long-term growth. OCM believes that inefficiencies and price volatility in emerging markets provide opportunities to invest in misvalued securities. Their emerging markets strategy seeks opportunities in the Asia Pacific region, Latin America, Eastern Europe, the Middle East, Africa and Russia. OCM combines a bottom-up, value-driven approach with top-down risk management. The firm also employs a long/short investment strategy that seeks substantial absolute returns.

Froley believes that convertible securities offer an opportunity to earn equity-like returns with substantially reduced risk. Their investment process begins with an evaluation of the economy and the current business cycle. Convertible portfolios are focused on market sectors where the firm perceives the outlook to be superior to that of the aggregate economy. Within industries considered to have the best prospects over the next six to twelve months, Froley uses its research resources to analyze the companies with convertibles outstanding. Once a company is identified as a potential investment candidate, the convertible security itself must pass their examination of credit quality, income level, investment bond value and equity participation potential. Investments are placed in companies that have competitive products, a strong balance sheet, good cash flows and an ability to grow earnings. Froley's internal research staff is composed exclusively of convertible specialists.

SSIIM invests primarily, but not exclusively, in equity, convertible and fixed income securities that are traded publicly in US and non US markets.

Functions as a College/University

Functions as a College/University

Oaktree manages assets across a wide range of investment strategies within four asset classes: Credit, Private Equity, Real Assets, and Listed Equities. The firm employs a bottom-up, fundamental approach to investing.