Oaktree Capital Group (OAK) Posts Mixed Q3 Results
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October 28, 2016 8:07 AM EDT
As of September 30, 2016 or for the quarter then ended, and, where
applicable, per Class A unit:
GAAP net income attributable to Oaktree Capital Group, LLC
(OCG) was $58.3 million ($0.93 per unit), up from $1.9 million
($0.04 per unit) for the third quarter of 2015.
Adjusted net income was $162.1 million ($0.92 per unit), up
from $27.0 million ($0.15 per unit) for the third quarter of 2015,
driven by higher investment income, incentive income and fee-related
earnings.
Distributable earnings were $141.5 million ($0.82 per unit), up
46% from $97.0 million ($0.53 per unit) for the third quarter of 2015,
primarily on higher incentive income....
More
October 28, 2016 8:06 AM EDT
Steve Kaplan Steps Down from Board and Transitions to Advisory
Partner Role
LOS ANGELES--(BUSINESS WIRE)--
Oaktree Capital Group, LLC (NYSE: OAK) today announced the appointment
of Steven Gilbert to its Board of Directors, effective as of October 24,
2016. Mr. Gilbert is the founder and Chairman of the Board of Gilbert
Global Equity Partners, L.P., an institutional investment firm.
Commenting on Mr. Gilberts appointment, Howard Marks, Oaktrees
Co-Chairman, said, Over three decades, Steve has had an impressive
career in private equity investing, investment banking, investment... More
October 28, 2016 8:05 AM EDT
David Kirchheimer to Retire March 31, 2017
LOS ANGELES--(BUSINESS WIRE)--
Oaktree Capital Group, LLC (NYSE: OAK) today announced that David
Kirchheimer has decided to retire as Oaktrees Chief Financial Officer
and member of its Board of Directors, effective March 31, 2017. At that
time, he will transition to serving as an Advisory Partner for the firm.
Effective April 1, 2017, Daniel Levin, Managing Director, Head of
Corporate Finance and Chief Product Officer, will assume the role of
Chief Financial Officer.
When David was hired as Oaktrees first employee, we... More
