Oaktree - Product Specialist Role, Associate

Late to this thread. I am a PS at a competitor and have very good knowledge of the role at Oaktree.

PS is fundamentally a liaison/bridge between investment team and asset raising team. At the junior level you'd be producing/updating fundraising collateral, answering written inbounds, doing data updates, etc. At mid level (VP ish) you'd start doing client update meetings, telling them how their fund is performing. You aren't expected to sell but you are a tool used by the fundraising team. At senior level you will start doing product design/strategy, participating in investment team ICs to present/defend the client viewpoint, etc. Remember these firms are more about gathering assets today than generating excess returns. Yes returns matter but in an age where more and more relies on tried tested and true methods (leverage, process improvement, rationalization, bolt-ons/buy and build), gathering assets becomes more and more important. Put it this way, Blackstone, KKR, Carlyle, Apollo, Ares, Oaktree didn't become huge because they are always generating huge alpha. They became huge because they sell something people want. PS role is part of that.