A major U.S.-based distressed fund has poached an asset management executive from investment bank J.P. Morgan. The fund aims to bring legendary value investor Howard Marks' views to the Indian market.
Los Angeles-based Oaktree Capital, run by legendary value investor Howard Marks, has hired Gaurav Parasrampuria (pictured below) away from J.P. Morgan.
Parasrampuria will be tasked with looking into the Indian market for the Los Angeles-based asset manager, according to «DealStreetAsia,» which first reported the move. He, who is based in Singapore, has been with the U.S. investment bank for the past five years, most recently as a vice-president in Hong Kong.
Folksy Wisdom
He has previously worked for Morgan Stanley in private equity and Citigroup.
Marks, who has an almost 50-year track record as a stock, bond and distressed debt investor, co-founded Oaktree 22 years ago.
He is well-known to a wider public for penning plain-spoken investment memorandums woven with folksy wisdom and humor.
Oaktree oversees $101 billion in assets.
