Oaktree Capital Q2 Net Income Jumps 129%
Oaktree Capital Group said Tuesday that second quarter net income jumped 129% to $56.6 million for the time period ended June 30. Adjusted net income rose nearly 80% to $297 million, while economic net income increased 66% to $172.6 million. Total segment revenues was up 63% to $555.1 million. Los Angeles-based Oaktree, which went public in April 2012, said it distributed $4.7 billion to investors in its closed-end funds. Assets under managements dropped $2.4 billion to $76.4 billion as of June 30. The firm said that the Oaktree Emerging Market Opportunities Fund LP, a pool that will invest in distressed emerging market corporate debt, held a first close in May. Including a separate account established in July, the pool has collected $193 million. The firm said it is also marketing the following funds: Oaktree Principal Fund VI LP, Oaktree Real Estate Debt Fund LP and Oaktree European Dislocation Fund LP.
