Oaktree Capital Managing Director Milwood Hobbs, Jr.: Distressed, Credit & Private Equity Investing

Oaktree Capital Managing Director & Head of North America Sourcing & Origination, Milwood Hobbs, Jr. on the Elevate platform - with Elevate founder, Kaushik Ravi (6+ year Goldman Sachs VP & Director in PE). We cover a range of topics - including Overview of Milwood's career & lessons learned, Overview of Oaktree and what makes it a special for him, how to develop an investor's mindset, how to think about growth vs. credit investing, evolution of the credit markets, what Oaktree looks for in candidates, and Q&A from the audience of students & professionals.

0:00 - Intro to Elevate & Milwood
1:54 - Career Journey: From Sales to Columbia MBA to Deutschebank to Goldman Sachs LevFin to Oaktree Capital MD
5:10- What makes Oaktree a special place?
9:10 - Deep-dive into credit investing and distressed investing
13:50 - What makes a great credit investor? What differentiates a young professional as a credit investor?
17:40 - Evolution of credit markets since Global Financial Crisis - what has led to the growth?
19:40 - Ownership mindset as an investor
22:00 - Investing well at different parts of the market cycle
24:10 - Growth vs. Value Investing
28:20 - Investing in Stressed Companies
31:55 - Current state of the distressed & credit investing market
35:50 - Different types of distressed companies
39:16 - Tradeoffs in investing capital vs. waiting
42:30 - Complimentary alignment with Brookfield
43:50 - What is Oaktree looking for in candidates? Analyst all the way to post-MBA
50:18 - Legal background necessary for distressed investing?
53:40 - Milwood's Career Advice

Elevate Network is the largest finance & investing career platform in North America, partnered up with the top 35+ undergraduate and top 10+ MBA programs. We've featured professionals from the top 50+ Private Equity, Hedge Fund, Investing, Venture Capital and Investment Banking firms in the world.