Oaktree Capital is set to lose one of its most senior Asia-based credit executives, with Pedro Urquidi expected to depart in the coming months, according to a report by Bloomberg citing unnamed people familiar with the matter.
Urquidi, who leads opportunistic credit outside North America, relocated to Hong Kong in 2019 to help expand Oaktree’s regional presence as global investors increased exposure to Asian distressed debt. He has spent more than two decades at the firm, according to his LinkedIn profile.
Oaktree reportedly declined to comment, and Urquidi did not respond to requests for comment.
The departure comes as the firm continues to expand its footprint in India, where it has deployed more than $4bn in private credit investments since 2018. At the same time, it has faced ongoing challenges in Greater China, including recovering value from distressed assets tied to defaulted developer China Evergrande Group.
Last year, Oaktree closed a global opportunities fund with about $16bn in commitments, underscoring continued investor appetite for its opportunistic credit strategy despite regional headwinds.
