Oaktree Capital Group (OAK) Posts Mixed Q3 Results
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Oaktree Announces Third Quarter 2016 Financial Results
October 28, 2016 8:07 AM EDTAs 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.... MoreOaktree Appoints Steven Gilbert to Board of Directors
October 28, 2016 8:06 AM EDTSteve 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
Daniel Levin to Succeed David Kirchheimer as Oaktree Chief Financial Officer
October 28, 2016 8:05 AM EDTDavid 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
