How Oaktree's Head of Sourcing Finds the Next Great Deal

In this episode of the Odd Lots podcast, Milwood Hobbs, head of Oaktree's Sourcing and Originations Group, shares insights on the changing landscape of the private credit market, especially in the wake of Dodd-Frank. He discusses his career journey, illustrating the transition from a banking-centric leveraged finance environment to today's more varied private credit scene. Hobbs underscores the significance of cultivating strong relationships with sponsors and other key players, mastering negotiation skills, and grasping the nuances of both public and private markets to effectively price and secure deals. The conversation also delves into the challenges of deal diligence, such as spotting potential issues in a company's financial systems and accounting practices, as well as the rising legal costs tied to complex transactions.