Oaktree Capital Group's assets under management were $77.1 billion as of Dec. 31, up 3% from a year earlier, according to the alternative investment management firm's earnings release Thursday.
“The AUM is down slightly but it is not something we focus on,” said John Frank, Oaktree's managing principal in an interview.
During the year, Oaktree distributed $13 billion to investors and raised $11 billion in capital, Mr. Frank noted.
Fee-generating assets under management were $66.8 billion as of Dec. 31, down less than 1% as of year-end 2011.
Net income based on generally accepted accounting principles was $107.8 million for the year ended Dec. 31, up from a GAAP net loss of $96 million as of Dec. 31, 2011.
Mr. Frank said that GAAP numbers are “useless” because GAAP numbers consolidate all of Oaktree's funds.
Oaktrees' non-GAAP adjusted gross income was $717 million at year-end 2012, up 67.5%from the year before.