Oaktree Capital Management is one of the world’s biggest asset management firms, with 1,050 employees and $164 billion in assets under management. But few of those assets are as stylish as this Holmby Hills mansion, which famed investor and Oaktree co-founder Howard Marks recently sold for nearly $30 million, as first reported by The Real Deal.
As it turns out, Oaktree was on both sides of this deal. Records reveal the home’s spendy buyer is Bruce Karsh, Marks’ longtime business partner and the lesser-known Oaktree co-founder. Both Marks and Karsh are worth north of $2 billion, per Forbes, so they can well afford to indulge their real estate passions. Marks himself is one of the most rabid trophy-mansion collectors globally, with lavish estates in Beverly Hills, Malibu, New York City, the Hamptons, London and Mallorca.
And this isn’t the first time Karsh has bought one of Marks’ homes. For many years, Marks and his family primarily resided at an estate in L.A.’s Brentwood neighborhood; in 2014, he sold the property to Karsh for nearly $34 million. Five years later, Karsh re-sold that estate at a slight loss to its current owner — Andy Rosenfield, president of Guggenheim Partners.
As for the Holmby Hills mansion, Marks bought the house in late 2020, paying $26.2 million. The seller was Kristin Tutor, a daughter of mega-rich construction magnate Ron Tutor and the younger sister of “Million Dollar Listing” power broker Tracy Tutor. The house was never on the market, so it’s not clear what renovations Marks made in the two years he owned it, but Tutor had thoroughly imbued the place with her funky sense of style.
Built in 1937, the mansion was also reportedly once occupied by Art Linkletter and iconic film composer Henry Mancini (“The Pink Panther,” “Breakfast at Tiffany’s”). Remodeled and expanded over the years, the gated compound includes a two-story main house and detached guesthouse, with a total of nine bedrooms and nine bathrooms in more than 13,000 square feet of living space.
While the house has a very prim and proper exterior, the interiors are an ebullient festival of vivid colors and lurid decor. Beyond the marble foyer is a living room that connects to an executive office with a one-of-a-kind “ivory crocodile ceiling,” according to dating listings. The kitchen is a treasure trove of top-of-the-line appliances, and there are spacious dining, breakfast and family rooms, most of which include multiple sets of French doors opening to the estate’s gardens.
Five of the main house’s bedrooms are located upstairs, including a primary suite with a rooftop balcony overlooking the lush backyard. The flat lot features grassy lawns and a dark-bottom swimming pool with a spa, plus the two-bedroom guesthouse, a motorcourt with space for 10+ cars and a three-car garage.
Karsh, 67, still owns a $68 million estate elsewhere in Holmby Hills that is currently undergoing extensive renovations. He and wife Martha have also long owned a hilltop compound in the mountains above Beverly Hills.