Pedro Urquidi, Oaktree Capital Group LLC's senior investment professional for opportunistic credit outside North America, is set to leave the firm in the coming months, according to people familiar with the matter. Urquidi, who has been with Oaktree for more than two decades, relocated to Hong Kong in 2019 to expand the firm's Asia platform as global investors increasingly targeted distressed debt in the region.

His departure comes as Oaktree faces leadership changes in its Asian operations. Urquidi's move to Hong Kong in 2019 was part of the firm's strategy to capitalize on growing opportunities in Asia's distressed debt market. The firm has been working to strengthen its presence in the region as investors seek higher yields amid global market volatility.

Urquidi's exit could impact Oaktree's ability to execute its Asia strategy, particularly in opportunistic credit. The firm has built a significant presence in the region under his leadership, and his departure raises questions about continuity in one of Oaktree's key growth markets. Industry watchers will be monitoring how the firm plans to fill this senior role and whether it signals any shift in its Asia-focused investment approach.