Oaktree Capital Management has hired a 20-year emerging markets veteran to boost its own capacity in that area.
Julio Herrera will run Oaktree's new Emerging Markets Opportunities strategy. The fund will focus on distressed and dislocated corporate and sovereign debt.
"We're delighted to have Julio join our team," Oaktree co-founder Howard Marks said. "He has extensive experience investing in distressed assets in the emerging markets and shares Oaktree's bottom-up, value-oriented investment approach. We're particularly pleased to have Julio lead the charge for Oaktree in this very rapidly growing asset class, which is already approaching $1 trillion in size."
Herrara joins Oaktree from emerging markets firm Fintech Advisory, where he was president. He also formerly worked at Lehman Brothers, ING Capital Holdings and RRH Capital Management.