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Howard Marks Discloses a Giant Stake in Star Bulk Carriers

Oaktree Capial, Star Bulk Carriers: In an amended 13D with the SEC, Howard Marks’s Oaktree Capital disclosed a 21.9% stake in Star Bulk Carriers Corp. (NASDAQ:SBLK). The stock was not mentioned in Oaktree’s latest 13F, and the most recent filing indicates that Marks and his team are very bullish on the deep sea freight company.

OAKTREE CAPITAL MANAGEMENT

Yesterday, Star Bulk Carriers completed the public offering of 8.05 newly-issued shares, gaining gross proceeds worth $70.8 million. Oaktree Capital Management also participated in the offering, the company said in a statement. The proceeds from the sale of additional shares will be used to partially cover the purchase of nine newbuilding drybulk vessels, as well as future purchases of vessels and different corporate purposes such as working capital, the statement added.

Jim Simons‘ Renaissance Technologies, and D. E. Shaw‘s D E Shaw & Co. disclosed ownership of shares of Star Bulk Carriers in the latest round of 13F filings, holding around 11,000 and 10,100 shares respectively.

Disclosure: none

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