Oaktree appoints new European credit heads

The firm promoted two Oaktree veterans that have each been with the firm for over a decade. 

James Turner and Madelaine Jones have been named leaders of European credit at Oaktree Capital Management, effective immediately and replacing Shannon Ward, who will return to the US, a source familiar with the situation said.

As a result of their promotions, Jones and Turner will serve as portfolio manager and assistant portfolio manager, respectively, of the collateralised loan obligation business, the source said. Turner will also remain portfolio manager of the European high yield strategy and she will become assistant portfolio manager of that same business, according to the source.

The two will be co-portfolio managers of the European senior loan strategy. Turner will remain co-portfolio manager of the global high yield strategy. Both are Oaktree veterans, with Turner having joined in 2001, and Jones two years later.

Ward will return to Los Angeles to take advantage of a new investment management opportunity, but will stay on for a period of time to ensure a seamless transition, the source said. Her biography has been removed the Oaktree website.

Oaktree declined to comment, and Ward did not respond to request for comment.

According to Oaktree’s website, the firm manages $38.33 billion in corporate debt, the umbrella under which all of Jones’ and Turner’s strategies fall. They include $4.45 billion in global high yield bonds and $2.96 billion in European senior loans. The firm manages $1.45 billion in European high yield bonds, which have an annualised gross return 8.1 percent since its 1999 inception. The Los Angeles-based investment firm debuted its European CLO in May 2014 with a €375 million pricing, according to reports at the time.