Business Context and Reporting Period
This Form 8-K is a current report filed by Oaktree Capital Group, LLC on July 24, 2014. The filing serves as a Regulation FD disclosure to update investors on Assets Under Management (AUM) as of June 30, 2014. The Company announced it will report its second quarter 2014 financial results on July 31, 2014.
Key Financial Metrics
| Metric | Value (as of June 30, 2014) |
|---|---|
| Total Assets Under Management (AUM) | $91.1 billion |
| Management Fee-Generating AUM | $77.8 billion |
The filing does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity in this specific report; these metrics are expected in the upcoming Q2 2014 earnings release.
Material Changes and Definitions
The report defines "AUM" to include net asset value, fund-level leverage, undrawn capital commitments, and collateral assets. "Management fee-generating AUM" is a forward-looking metric reflecting assets on which fees will be earned in the following quarter. This metric excludes undrawn capital for certain funds, general partner investments, and funds beyond their fee-paying terms.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding future results of operations and financial performance. Management notes that actual results may differ materially due to various risks, including:
- Volatile anticipated revenue and income.
- Changes in the value of investments.
- The pace of raising new funds and changes in AUM.
- Timing and tax impact of carried interest.
- General economic and market conditions.
The Company states it has no obligation to update these forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the upcoming Q2 2014 financial results release scheduled for July 31, 2014.
- Confirm the composition of the $91.1 billion AUM versus the $77.8 billion fee-generating portion.
- Review the "Risk Factors" section in the Company's 2013 Form 10-K for detailed risk disclosures.
- Monitor future filings for actual revenue and profit figures not included in this 8-K.