Oaktree Capital Group reported Tuesday management fee-generating assets under management of $64.6 billion as of June 30, down 2.7% from March 31, and down 2.6% from June 30, 2012.
Total assets were $76.4 billion on June 30, also down from previous periods as the firm distributed money to investors.
New capital inflows partially offset the downward impact of asset sales by closed-end funds in their liquidation period.
Management fees, which Oaktree earns for overseeing assets, fell 3.4% to $182.5 million, while incentive income, which it earns for performance above certain thresholds, more than doubled to $338.1 million from $129 million a year earlier.
Adjusted net income, a measure of profit excluding some costs, rose 79% to $297 million from the second quarter of 2012, Oaktree said. Adjusted net income excludes some expenses, including non-cash equity compensation and income taxes.
Oaktree, led by founder and Chairman Howard Marks, has raised more than $3 billion for new investment offerings since it went public last year.