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Oaktree Capital Group, LLC Announces Third Quarter 2012 Financial Results

Stocks in this article: OAK

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.

GAAP-Basis Results

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 Liquidity

As 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.


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,

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.

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