Wealthiest Angelenos: 29, Bruce A. Karsh

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NET WORTH: $1.89 billion, up 9.1 percent

LAST YEAR: $1.73 billion

AGE: 59

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Money management, private equity

THE MONEY: Co-founder and chief investment officer of downtown L.A. private equity and debt giant Oaktree Capital Group grew wealth despite Oaktree’s stock remaining relatively flat throughout year.

BUZZ: Oaktree, which Karsh co-founded alongside former L.A. resident Howard Marks in 1995, continued to be a strong performer, growing its assets under management to $90.8 billion at end of last year. Company acquired New York infrastructure investment management firm Highstar Capital in August. Duke University alumnus chairs school’s investment management committee and sits on board of trustees. St. Louis native bought one of city’s finest hotels, Ritz-Carlton in suburb of Clayton, for $56 million in 2012. Also owns Fender Musical Instruments’ world headquarters in suburban Phoenix. Wife, Martha, lawyer and partner at Beverly Hills architecture firm Clark & Karsh. Karshes lost suit against neighbor, Saudi prince who plans to build megamansion near their home. Sits on board of Tribune Co. and numerous private companies.

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