Reuters: Private Equity: UPDATE 1-Oaktree Capital posts profit

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UPDATE 1-Oaktree Capital posts profit May 10th 2012, 12:57 Thu May 10, 2012 8:57am EDT May 10 (Reuters) - Oaktree Capital Group LLC posted a quarterly profit as the private equity firm earned more from management fees, and it declared a quarterly dividend. The company, which went public last month, posted a first-quarter profit attributable to it of $18.6 million, or 82 cents per share, compared with a loss of $10.1 million, or 45 cents per share, last year. Economic net income, a measure used to calculate the earnings of an alternative asset manager, was $278.4 million, or $1.45 per Class A share. Oaktree, which declared a quarterly dividend of 55 cents per Class A share, had about $77.9 billion in assets under management as of March 31. The company, which raised about $380 million from its IPO, received a tepid response when it entered the market. Oaktree's shares closed at $41.46 on Wednesday on the New York Stock Exchange.

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