David Kirchheimer will retire as Oaktree Capital Finance’s CFO and board member, effective March 31, 2017. At that time, he will transition to serving as an advisory partner for the firm.

Effective April 1, 2017, Daniel Levin, managing director, head of Corporate Finance and chief product officer, will assume the role of chief financial officer.

“When David was hired as Oaktree’s first employee, we gave him a single charge: make our back-office areas equal in quality to our investment ones,” said Howard Marks, Oaktree’s co-chairman. “Over the past 21 years, David has been an invaluable contributor to the firm’s global infrastructure, growth and corporate culture, and we look forward to the continued benefit of his tremendous experience and knowledge in his new role as an advisory partner.”

Los Angeles-based Oaktree is a global investment manager specializing in alternative investments, with $100 billion in assets under management as of September 30, 2016.