Bruce Karsh

Bruce A. Karsh
Born	10 10, 1955
Nationality	American
Occupation	Co-Chairman and Chief Investment Officer, Oaktree Capital Management; Executive board member and minority owner, Golden State Warriors
Known for	Co-founding Oaktree Capital Management
Spouse(s)	Martha Karsh

Bruce A. Karsh (born October 10, 1955) is an American investor, former lawyer, and philanthropist who co-founded Oaktree Capital Management, one of the largest global investment firms specializing in alternative and credit strategies. Serving as the firm's co-chairman and chief investment officer, Karsh has been a central figure in building Oaktree from its 1995 inception into a major force in distressed debt and credit investing, with the firm headquartered in downtown Los Angeles. Before entering the investment world, Karsh built a distinguished legal career that included a clerkship with Anthony M. Kennedy, who later became an associate justice of the Supreme Court of the United States. Karsh worked at the law firm O'Melveny & Myers, at Sun Life Insurance Company (formerly Kaufman & Broad), and at the TCW Group before partnering with Howard Marks and others to establish Oaktree. Beyond finance, Karsh is known for substantial philanthropic contributions, particularly to his alma maters Duke University and the University of Virginia School of Law, as well as to Howard University and various educational initiatives. He also serves as an executive board member and minority owner of the Golden State Warriors of the National Basketball Association.

Early Life

Bruce A. Karsh was born on October 10, 1955. He grew up in the St. Louis, Missouri, metropolitan area, where he attended Ladue Horton Watkins High School in the Ladue School District. Karsh was later recognized as a distinguished alumnus of the school district. His upbringing in the St. Louis area connected him to the local Jewish community; records indicate his family's ties to institutions in the region.

From an early age, Karsh demonstrated strong academic abilities that would propel him through elite educational institutions and ultimately into the upper echelons of American finance and law.

Education

Karsh attended Duke University, where he earned his Bachelor of Arts degree. He became closely involved with the university and later served on Duke's Board of Trustees, reflecting the depth of his connection to the institution.

After completing his undergraduate education, Karsh enrolled at the University of Virginia School of Law, where he earned his Juris Doctor degree. It was at UVA Law that he met his future wife, Martha, who was also a law student there. His legal education provided a foundation that shaped his early career as a lawyer and appellate clerk, and later informed his analytical approach to investment management.

Career

Legal Career

Following his graduation from law school, Karsh embarked on a career in law. In the early 1980s, he served as an appellate clerk for Judge Anthony M. Kennedy, who was then sitting on the United States Court of Appeals for the Ninth Circuit. Kennedy was later elevated to the Supreme Court of the United States in 1988. The clerkship provided Karsh with rigorous training in legal analysis and reasoning.

After his clerkship, Karsh joined the prominent law firm O'Melveny & Myers, where he practiced law. He subsequently transitioned from private legal practice into the corporate and financial sector, taking a position with Sun Life Insurance Company, which was formerly known as Kaufman & Broad. This move marked the beginning of Karsh's shift from the legal profession toward the investment world.

TCW Group

Prior to co-founding Oaktree, Karsh worked at the TCW Group, a major asset management firm based in Los Angeles. It was at TCW that Karsh began to develop his expertise in distressed debt investing and credit markets, and where he first worked alongside Howard Marks. The two built a track record in distressed debt and high-yield bond strategies during their time at TCW that laid the groundwork for their eventual partnership at Oaktree.

Oaktree Capital Management

In 1995, Karsh co-founded Oaktree Capital Management alongside Howard Marks, Sheldon Stone, and other partners. The firm was established in Los Angeles with a focus on alternative investment strategies, particularly in credit and distressed debt. From the outset, Karsh served as the firm's chief investment officer, overseeing investment strategy and portfolio management, while Marks became known for his investor memos and thought leadership on market cycles and risk.

Under the leadership of Karsh and Marks, Oaktree grew into one of the world's largest managers of distressed debt and alternative credit strategies. The firm's investment approach emphasizes risk control, consistency, and a contrarian willingness to invest in out-of-favor assets. As CIO, Karsh was responsible for making final investment decisions and shaping the firm's overall investment philosophy. Over the course of more than two decades, Oaktree built a track record that included approximately 19% annualized returns in its distressed debt strategies over a 22-year period, as reported by Bloomberg in 2011.

Oaktree went public in April 2012, listing on the New York Stock Exchange under the ticker OAK, which provided a measure of public transparency into the firm's operations and performance.

The firm celebrated its 30th anniversary on April 10, 2025. In a podcast marking the occasion, co-founders Karsh, Marks, and Stone reflected on the firm's history and development over three decades.

Brookfield Partnership and Acquisition

In a significant corporate development, Brookfield Asset Management acquired a majority stake in Oaktree Capital Management, creating the entity known as Brookfield Oaktree Holdings. Karsh became co-chairman of this combined entity, maintaining his role as chief investment officer.

In October 2025, Brookfield announced that it would acquire the remaining 26% stake in Oaktree that it did not already own, in a deal valued at approximately $3 billion. This transaction would give Brookfield full control of the distressed debt specialist. As of 2025, the firm, headquartered in downtown Los Angeles, had seen its assets continue to grow under the Brookfield-Oaktree structure.

As of October 2025, Karsh, aged 70, continued to serve as co-chairman of Brookfield Oaktree Holdings and as CIO.

Golden State Warriors

In addition to his role at Oaktree, Karsh serves as an executive board member and minority owner of the Golden State Warriors, the NBA franchise based in San Francisco. This involvement reflects his broader interests outside of the investment management industry.

Personal Life

Bruce Karsh is married to Martha Karsh (née Martha L. Karsh). The couple met while both were students at the University of Virginia School of Law. Martha Karsh has also been active in civic and philanthropic life, serving on the board of directors of organizations such as Common Sense Media.

The Karshes are based in Los Angeles, California. They have been affiliated with the Wilshire Boulevard Temple, a historic synagogue in Los Angeles.

Together, Bruce and Martha Karsh are major philanthropists through the Karsh Family Foundation, which has directed substantial resources toward education, democracy, and access to higher education.

Philanthropy

University of Virginia

Bruce and Martha Karsh have been among the most significant donors to the University of Virginia, particularly to its School of Law. In May 2018, the couple announced a donation of $43.9 million to the UVA School of Law, which was described as the largest gift in the history of the law school at that time. The gift supported a range of initiatives including scholarships and institutional development.

In June 2021, the University of Virginia announced plans to invest $100 million in the study, teaching, and promotion of democracy, led by a major gift from the Karsh family. The initiative resulted in the creation of an institute focused on democratic principles and governance, reflecting the Karshes' interest in civic education and democratic institutions. The gift was among the largest directed toward the study of democracy at any American university.

Additionally, the Karshes have supported physical improvements at the UVA School of Law, including renovation projects.

Duke University

Karsh has maintained a close relationship with Duke University, serving on its Board of Trustees. He and Martha have made significant financial contributions to Duke, including a major gift announced in 2008. In 2011, additional philanthropic support for Duke was reported.

Howard University

In December 2022, Howard University announced that it had received a second $10 million gift from the Karsh Family Foundation. The donation was directed to support the Graduation Retention Access to Continued Excellence (GRACE) Grant Program, which provides financial assistance to Howard students facing economic barriers to completing their degrees. This was the second such gift from the Karsh Family Foundation to support the GRACE program, underscoring the family's commitment to expanding educational access and supporting historically Black colleges and universities.

KIPP LA and Other Educational Initiatives

The Karshes have been supporters of KIPP LA Schools, a network of charter schools in Los Angeles. Their philanthropic activities have been tracked by Inside Philanthropy, which has profiled Bruce Karsh among major Wall Street donors. Martha and Bruce Karsh have also been recognized as significant donors to the Wilshire Boulevard Temple in Los Angeles.

Recognition

Karsh has been included on the Forbes 400 list of the wealthiest Americans. According to Forbes, his wealth is derived primarily from his role as co-founder and CIO of Oaktree Capital Management. He first appeared on the Forbes list of billionaires in 2008.

The Los Angeles Business Journal has consistently recognized Karsh as one of the most influential business figures in Los Angeles. In its 2025 LA500 list, the publication highlighted his leadership of Oaktree and the growth of the firm's assets under management. In October 2025, the Los Angeles Business Journal ranked him at number 36 on its wealth list.

Karsh's alma mater, the Ladue School District in suburban St. Louis, recognized him as a distinguished alumnus in 2012.

Legacy

Bruce Karsh's career represents a distinctive trajectory from elite legal practice to the pinnacle of alternative investment management. His partnership with Howard Marks at Oaktree Capital Management produced one of the most prominent firms in distressed debt and credit investing, a sector that has grown significantly in importance within global finance since the 1990s. As CIO, Karsh was the principal decision-maker on investments that generated returns placing Oaktree among the top-performing distressed debt managers over multiple market cycles.

The firm's 30-year history, celebrated in 2025, reflects the durability of the investment philosophy and organizational culture that Karsh helped to establish. The acquisition by Brookfield Asset Management, culminating in the 2025 deal for full ownership, represented a major consolidation in the alternative asset management industry and a recognition of the platform Karsh and his co-founders had built.

Outside of investment management, the Karsh family's philanthropic activities—spanning major research universities, historically Black colleges, charter schools, and democratic institutions—have had a measurable impact on higher education access and civic education in the United States. The $100 million democracy initiative at UVA, the record-setting gift to the UVA School of Law, and the GRACE program at Howard University represent durable institutional commitments.

Karsh continues to be active in both investment management and philanthropy as of 2025.