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Oaktree Capital Group, Llc (OAK) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Oaktree Capital Group, Llc

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CIK: 1403528 Ticker: OAK
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Oaktree Announces First Quarter 2019 Financial Results

As of March 31, 2019 or for the quarter then ended, and where applicable, per Class A unit:
•
GAAP net income attributable to Oaktree Capital Group, LLC (“OCG”) Class A unitholders was $47.3 million ($0.66 per unit), down from $52.7 million ($0.78) for the first quarter of 2018, primarily reflecting lower operating profits, partially offset by higher returns on our fund investments.
•
Distributable earnings were $233.9 million ($1.46 per unit), up from $194.0 million ($1.18) for the first quarter of 2018, driven by higher incentive income.
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Assets under management were $118.6 billion, down 1% for the quarter and down 2% over the last 12 months. Gross capital raised was $1.6 billion and $12.3 billion for the quarter and last 12 months, respectively. Uncalled capital commitments (“dry powder”) were $18.3 billion, of which $12.6 billion were not yet generating management fees (“shadow AUM”).
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Management fee-generating assets under management were $100.3 billion, up 2% for the quarter and down 2% over the last 12 months.
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A distribution was declared of $1.05 per unit, bringing aggregate distributions relating to the last 12 months to $3.05.
LOS ANGELES, CA. April 25, 2019 – Oaktree Capital Group, LLC (NYSE: OAK) today reported its unaudited financial results for the first quarter ended March 31, 2019.
Jay Wintrob, Chief Executive Officer, said, “Oaktree had a strong start to 2019, delivering solid financial and investment performance in the first quarter. Distributable earnings grew $40 million, or 21%, over the same period one year ago, and our closed-end funds generated gross returns of 9% over the last twelve months. On March 13th, we announced that Brookfield will acquire 62% of our business. We believe partnering with Brookfield will be a powerful combination of two complementary, world-class asset management businesses.  We will work together to offer exceptional solutions to our clients, leverage our combined strengths and generate strong returns across all points in the economic cycle.”
Class A Unit Distribution
A distribution of $1.05 per Class A unit attributable to the first quarter of 2019 will be paid on May 10, 2019 to Class A unitholders of record at the close of business on May 6, 2019.
Preferred Unit Distributions
A distribution was declared of $0.414063 per Series A preferred unit, which will be paid on June 15, 2019 to Series A preferred unitholders of record at the close of business on June 1, 2019.
A distribution was declared of $0.409375 per Series B preferred unit, which will be paid on June 15, 2019 to Series B preferred unitholders of record at the close of business on June 1, 2019.
Agreement and Plan of Merger
On March 13, 2019, OCG and Brookfield Asset Management Inc. (“Brookfield”) announced their entry into a definitive merger agreement pursuant to which Brookfield will acquire approximately 62% of OCG’s business in a stock and cash transaction. Following the transaction, the remaining 38% of the business will continue to be owned by Oaktree Capital Group Holdings, L.P. (“OCGH”), whose unitholders consist primarily of OCG’s founders and

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The following information was filed by Oaktree Capital Group, Llc (OAK) on Thursday, April 25, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Oaktree Capital Group, Llc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Unitholders' Capital (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Financial Condition (Unaudited)
Condensed Consolidated Statements Of Financial Condition (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Operations (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt Obligations And Credit Facilities
Debt Obligations And Credit Facilities (Tables)
Debt Obligations And Credit Facilities - Additional Information (Details)
Debt Obligations And Credit Facilities - Credit Facilities Of Consolidated Funds (Details)
Debt Obligations And Credit Facilities - Debt Obligations (Details)
Debt Obligations And Credit Facilities - Debt Obligations Of Clos (Details)
Debt Obligations And Credit Facilities - Future Principal Payments Of Debt Obligations (Details)
Debt Obligations And Credit Facilities - Future Principal Payments With Respect To The Clo Loans Payable (Details)
Derivatives And Hedging
Derivatives And Hedging (Tables)
Derivatives And Hedging - Fair Value Of Freestanding Derivatives (Details)
Derivatives And Hedging - Balance Sheet Offsetting (Details)
Derivatives And Hedging - Impact Of Derivatives Held By Consolidated Funds On Income (Details)
Derivatives And Hedging - Summary Of Freestanding Derivative Instruments On Income (Details)
Earnings Per Unit
Earnings Per Unit (Tables)
Earnings Per Unit - Computations Of Net Income (Loss) Per Unit (Additional Information) (Details)
Earnings Per Unit - Computations Of Net Income (Loss) Per Unit (Details)
Equity-Based Compensation
Equity-Based Compensation - Class A And Ocgh Unit Awards (Details)
Equity-Based Compensation - Deferred Equity Units (Details)
Equity-Based Compensation - Equity Value Units (Details)
Equity-Based Compensation - Summary Of Unvested Equity-Based Awards And Changes (Details)
Equity-Based Compensation Equity-Based Compensation (Tables)
Fair Value
Fair Value (Tables)
Fair Value - Changes In Fair Value (Details)
Fair Value - Consolidated Funds Additional Information (Details)
Fair Value - Consolidated Funds Summary Of Changes In Fair Value Of Level Iii Investments (Details)
Fair Value - Consolidated Funds Summary Of Valuation Techniques And Quantitative Information (Details)
Fair Value - Consolidated Funds Valuation Of Investments And Other Financial Instruments (Details)
Fair Value - Financial Instruments By Fair-Value Hierarchy Level (Details)
Fair Value - Valuation Techniques (Details)
Fixed Assets
Fixed Assets (Tables)
Fixed Assets Fixed Assets (Details)
Goodwill And Intangibles
Goodwill And Intangibles (Tables)
Goodwill And Intangibles - Expected Future Amortization (Details)
Goodwill And Intangibles Goodwill And Intangibles - Carrying Value Of Intangible Assets (Details)
Income Taxes And Related Payments
Income Taxes And Related Payments (Details)
Income Taxes And Related Payments (Tables)
Investments
Investments (Tables)
Investments - Corporate Investments (Details)
Investments - Equity-Method Investments (Details)
Investments - Fair Value (Details)
Investments - Fair Value, Additional Information (Details) (Phantom)
Investments - Investment Income (Loss) (Details)
Investments - Net Gains (Losses) From Investment Activities Of Consolidated Funds (Details)
Investments - Other Investments (Details)
Leases
Leases - Components Of Lease Expense (Details)
Leases (Tables)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Maturity Of Operating Lease Liabilities (Details)
Non-Controlling Redeemable Interests In Consolidated Funds
Non-Controlling Redeemable Interests In Consolidated Funds (Details)
Non-Controlling Redeemable Interests In Consolidated Funds (Tables)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details)
Related-Party Transactions
Related-Party Transactions (Tables)
Related-Party Transactions - Additional Information (Details)
Related-Party Transactions - Amounts Due From And Due To Affiliates (Details)
Revenues
Revenues Revenues (Tables)
Revenues - Revenues Disaggregated By Fund Structure (Details)
Revenues Revenues - Contract Balances (Details)
Segment Reporting
Segment Reporting (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Unitholders' Capital
Unitholders' Capital (Tables)
Unitholders' Capital - Additional Information (Details)
Unitholders' Capital - Changes In Company Ownership Interest (Details)
Unitholders' Capital - Summary Of Net Income (Loss) (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Additional Information (Details)
Variable Interest Entities - Vies Not Consolidated (Details)
Ticker: OAK
CIK: 1403528
Form Type: 10-Q Quarterly Report
Accession Number: 0001403528-19-000015
Submitted to the SEC: Fri May 10 2019 12:36:30 PM EST
Accepted by the SEC: Fri May 10 2019
Period: Sunday, March 31, 2019
Industry: Investment Advice

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