Howards Marks is a billionaire investor and the founder of Oaktree Capital Management, an investment firm that recorded over $8.4 billion in U.S.-listed common stocks in its 13F filing for the fourth quarter of 2022.
Marks loaded up on 11 SPACs, many of which were newly formed in 2022. Oaktree Capital purchased 400,000 shares of Hainan Manaslu Acquisition Corp, which traded at an average price of $10.07 per share during the quarter, which is close to the starting floor price of the SPAC model (which is $10 per share).
Another SPAC Oaktree purchased was TenX Keane Acquisition. This SPAC went public in October 2022 and raised ~$66 million. This SPAC aims to focus on target businesses in Asia, but excluding mainland China.
Oaktree also bought shares of Mobiv Acquisition Corp. (MOBVU). This SPAC was formed in 2022 and aims to target businesses in the electric vehicle (EV) sector, as well as those in smart mobility. Read more.
