Oaktree Capital Group reported assets under management of $83.6 billion as of Dec. 31, up 5% from $79.8 billion as of Sept. 30 and up 8% from $77.1 billion as of Dec. 31, 2012, according to the alternative investment firm's fourth quarter and full-year 2013 report issued Thursday.
The increase was driven by gross capital raised of $12.5 billion in 2013 and market-value gains.
During the year, Oaktree held a final closing of the $2.7 billion Oaktree Real Estate Opportunities Fund VI. The firm also raised $842 million for its emerging market opportunities strategy, which invests in distressed emerging markets corporate debt, and raised $912 million for its European Private Debt strategy. Capital commitments to Oaktree's strategic credit strategy, which invests in stressed credits, reached $2 billion; Oaktree raised $1 billion for its emerging markets equity strategy.
Oaktree is now marketing Oaktree Real Estate Debt Fund and Oaktree Enhanced Income Fund II.
GAAP net income grew 65% to $64.9 million for the fourth quarter and 106% to $222 million for the year ended Dec. 31.
Oaktree also reported adjusted net income grew to $268.4 million from $220.4 million a year earlier. Its adjusted net income grew to $1.1 billion from $717.3 million at year-end 2012.