Oaktree Capital Group, Llc (OAK) 10-K Annual Report February 2015


•	Adjusted net income per Class A unit was $0.61 and $3.24 for the fourth quarter and full-year 2014, respectively, down from $1.62 and $6.38 for the corresponding prior-year periods, on lower incentive and investment income.


•	Distributable earnings per Class A unit were $0.65 and $3.43 for the fourth quarter and full-year 2014, respectively, down from $1.33 and $5.82 for the corresponding prior-year periods, primarily on lower incentive income.


•	GAAP net income attributable to Oaktree Capital Group, LLC was $24.4 million and $126.3 million for the fourth quarter and full-year 2014, respectively, as compared with $64.9 million and $222.0 million for the corresponding prior-year periods.


•	Gross capital raised was $2.3 billion and $14.7 billion for the fourth quarter and full-year 2014, respectively, with newer investment strategies contributing $1.0 billion and $7.6 billion of the respective totals. The annual total of $14.7 billion represented a record for a year without a new Distressed Debt fund and drove a 9% year-over-year gain in assets under management, to $90.8 billion.


•	Oaktree declares a distribution of $0.56 per Class A unit with respect to the fourth quarter of 2014, bringing aggregate distributions relating to full-year 2014 to $2.71.

LOS ANGELES, CA. February 9, 2015 – Oaktree Capital Group, LLC (NYSE: OAK) today reported its unaudited financial results for the fourth quarter and year ended December 31, 2014.

Howard Marks, Co-Chairman, said, “The investing environment in 2014 defied easy labeling, with a big spread in performance among the major equity and fixed income indices, as well as our strategies. Against this backdrop, we continued to find some attractive opportunities to deploy capital, particularly in real estate and Europe. As we begin 2015 with our largest-ever fund marketing pipeline, we believe we are well positioned to take advantage of growing investment opportunities.”

Jay Wintrob, who joined Oaktree as CEO in November 2014, said, “Oaktree is an outstanding firm with tremendous talent and a superb reputation. I look forward to making Oaktree even better by driving our focus on achieving excellence in investing, increasing efficiency and profitability, and pursuing appropriate growth opportunities.”

Adjusted net income (“ANI”) declined to $98.4 million in the fourth quarter of 2014 from $268.4 million in the fourth quarter of 2013. For full-year 2014, ANI decreased to $575.1 million from $1.1 billion in 2013. The declines primarily reflected lower incentive income attributable to the prior year's comparatively large incentive distributions by OCM Opportunities Fund VIIb, L.P. (“Opps VIIb”), and reduced investment income.

Distributable earnings declined to $121.7 million in the fourth quarter of 2014 from $221.3 million in the fourth quarter of 2013. For full-year 2014, distributable earnings decreased to $608.1 million from $984.3 million in 2013. The declines primarily reflected lower incentive income following the comparatively large incentive distributions by Opps VIIb in 2013.

As previously announced, assets under management (“AUM”) and management fee-generating assets under management (“management fee-generating AUM”) as of December 31, 2014 were $90.8 billion and $78.1 billion,

The following information was filed by Oaktree Capital Group, Llc (OAK) on Monday, February 9, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Oaktree Capital Group, Llc provided additional information to their SEC Filing as exhibits

Exhibit 10.20: Material Contract

Exhibit 10.21: Material Contract

Exhibit 10.22: Material Contract

Exhibit 10.23: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: OAK
CIK: 1403528
Form Type: 10-K Annual Report
Accession Number: 0001403528-15-000009
Submitted to the SEC: Fri Feb 27 2015 5:15:13 PM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Investment Advice

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Oaktree Capital Group, Llc (OAK) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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