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Oaktree Capital AUM relatively flat for quarter, year

Oaktree Capital Group CEO Jay Wintrob

Oaktree Capital Group's assets under management totaled $100.2 billion as of Dec. 31, up 1% from Sept. 30 and down slightly from $100.5 billion a year earlier, according to the alternative investment firm's earnings report released Tuesday.

Oaktree attributed the increase in assets under management in part to strong investment performance.

Oaktree also raised gross capital of $1.7 billion in the quarter and $8.9 billion in the year ended Dec. 31.

"Looking ahead, we will continue to take advantage of buoyant market conditions to sell assets and return capital and profits to our clients, while maintaining our disciplined investment process and remaining well positioned for future opportunities with over $20 billion in dry powder," said CEO Jay Wintrob in the earnings release.

GAAP net income attributable to Oaktree Capital Group was $13.4 million, down from $45.8 million in the prior quarter and $59.3 million in the year-earlier period.

GAAP net income for the year ended Dec. 31 was $231.5 million, compared to $194.7 million in 2016.

Management fees were $188.8 million in the quarter, up 1% from prior quarter but down 2% from the quarter ended Dec. 31, 2016. For the year, management fees decreased 4.9% to $747.3 million from $785.7 million in the year ended Dec. 31, 2016.

Incentive income was $72.9 million in the fourth quarter, up 36% from the prior quarter and up 2.4% from the year-earlier quarter. Incentive income increased 105.9% to $731.2 million in the year ended Dec. 31, from $355.2 million in 2016. The annual increase was primarily attributable to $427.8 million of incentive income from Oaktree Principal Opportunities Fund IV.