Oaktree Capital Group’s reported assets under management of $96.9 billion as of March 31, a 1% dip from the end of the fourth quarter and a 3% decrease from a year earlier, said the alternative investment manager’s first quarter financial results released Thursday.
Management fee-generating assets under management reached $79.9 billion as of March 31, up 1% from Dec. 31 and up 2% from March 31, 2015. The year-over-year growth in management fee-generating assets was due to the commencement of investment periods of four funds.
GAAP net income for the quarter was $28.1 million, compared to $11.4 million in the fourth quarter and $38.3 million for the first quarter of 2015.
Management fees rose to a quarterly record of $201.3 million, up 7% from $187.7 million in the fourth quarter and up 5.9% from $190.1 million in the first quarter of 2015. Incentive fees were $55.9 million, up from $2.6 million in the fourth quarter and zero incentive fees in the first quarter of 2015.
