One of the fastest-growing asset managers in the United States is targeting Australia’s $3.4 trillion superannuation industry, tasking two executives with tapping into the country’s institutional investment community and exposing it to the North American credit market and real estate sector.
“The Australian market, in my mind, is littered with American funds going over there and thinking they are going to walk away with bags of money. And we could not disagree more,” Mr Clarke, a University of Sydney graduate, said. It was spawned from the merger of investment firms Owl Rock and Dyal Capital. The tie-up brought together ex-Lehman Brothers dealmaker and Dyal founder, Michael Rees, former KKR veteran Marc Lipschultz, and Doug Ostrover, the Credit Suisse banker who founded Blackstone’s credit arm, GSO Capital Partners.
Mr Rees was sidelined in a management shuffle in May. Mr Lipschultz, who was co-president with Mr Rees, was promoted to co-chief executive alongside the more senior Mr Ostrover. Mr Rees, still a co-president, was asked, and declined, to resign in June,In response to the alleged management discontent, a spokesman for Blue Owl said the company had “refined” its governance agreements.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FOXSportsAUS - 🏆 24. / 51 Read more »