The portion of distributable earnings attributable to our Class A units (“distributable earnings-OCG”) was $0.70 and $0.52 per Class A unit for the third quarters of 2012 and 2011, respectively, reflecting distributable earnings per Operating Group unit of $0.80 and $0.74, respectively, less costs borne by Class A unitholders for professional fees and other expenses, cash taxes attributable to the Intermediate Holding Companies and amounts payable pursuant to the tax receivable agreement.
Net income attributable to Oaktree Capital Group, LLC was $25.2 million for the third quarter of 2012. The comparable amount in the third quarter of 2011 was a net loss of $36.5 million, which included significant non-cash compensation expense stemming from the vesting of units held by our employees at the time of our private offering in May 2007. The vesting period for that equity ended on January 2, 2012.
Capital and LiquidityAs of September 30, 2012, we had an available cash balance of $310.9 million, or $671.7 million when including investments in U.S. Treasury and government agency securities, and $618.9 million in outstanding debt. We have no borrowings outstanding against our $250 million revolving credit facility. In addition to our more liquid assets, investments in Oaktree funds and non-Oaktree funds and companies were $1.2 billion as of September 30, 2012. Distribution Oaktree Capital Group, LLC has declared a distribution of $0.55 per Class A unit. This distribution, which is related to the third quarter of 2012, will be paid on November 20, 2012 to Class A unitholders of record at the close of business on November 16, 2012. Conference Call Oaktree will host a conference call to discuss third quarter 2012 results today at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time. The conference call may be accessed by dialing (888) 769-9724 (U.S. callers) or +1 (415) 228-4639 (non-U.S. callers), participant password OAKTREE. Alternatively, a live webcast of the conference call can be accessed through the Unitholders – Investor Relations section of the Oaktree website, http://ir.oaktreecapital.com/. For those individuals unable to listen to the live broadcast of the conference call, a replay will be available for 30 days on Oaktree’s website, or by dialing (888) 678-8548 (U.S. callers) or +1 (402) 220-6449 (non-U.S. callers), beginning approximately one hour after the broadcast.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV