(Bloomberg) Brookfield Asset Management is poised to create a $475 billion investing behemoth with its deal to buy a majority of Oaktree Capital, and some of Wall Street’s richest executives are joining forces as a result. Oaktree co-founder Howard Marks will sit on Brookfield’s board alongside Chief Executive Officer Bruce Flatt. Both billionaires say they expect a seamless transition.
There will be “no change to either of the businesses,” Flatt, 53, said in an interview Wednesday. “The overlap you see is quite small and even where there is overlap the business that we run and Oaktree runs is quite different.”
