Oaktree Swings to Second-Quarter Profit as Assets Climb
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Oaktree Capital Group LLC, the world’s largest distressed-debt investor, posted a second-quarter profit compared with a loss in the year-earlier period as assets and fees for managing them climbed.
Net income rose to $24.7 million, or 84 cents, from a loss of $20.4 million, or 90 cents, a year earlier, Los Angeles-based Oaktree said in a statement today. Assets under management rose to $78.7 billion from $77.9 billion at the end of the first quarter as the firm attracted new commitments.