Oaktree Turns Profit On Asset Surge

Aug 7 2012 | 2:57pm ET

Oaktree Capital Management swung to a second-quarter profit as its assets continued to rise.

The firm, which went public in April, said its net income was $24.7 million in the three months to June, compared to a $20.4 million loss in the year-earlier period. The Los Angeles-based firm added that its adjusted net income, which excludes some costs, rose 17% to $165.5 million from the second quarter of last year.

Oaktree said the increased profit was due to an increase in assets under management—and the increase in fees that went with it.

Oaktree’s assets stood at $78.7 billion at the end of the second quarter, up from $77.9 billion at the end of the first. The firm is planning to close its ninth distressed debt fund shortly with $4.9 billion. The firm is also currently raising a real-estate fund, seeking $1.5 billion.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...