Tue, Nov 12, 9:42 PM (128 days ago)
In the third quarter ending September 30, 2024, Brookfield Oaktree Holdings, LLC (BOH) reported significant financial changes following the 2024 restructuring, which deconsolidated Oaktree Capital I. Total revenues increased by 24.8% to $140.3 million, driven primarily by a 32.3% rise in interest and dividend income, totaling $115.0 million, attributed to improved performance from investments in Oaktree funds. However, incentive income was eliminated post-restructuring, impacting overall revenue dynamics. Expenses surged, particularly interest expenses, which rose 266.1% to $21.6 million, mainly due to new debt at Opps XII. Net income attributable to BOH Class A unitholders increased 46.6% to $36.8 million, reflecting robust fund performance. Cash flows from operations showed a net utilization of $508.6 million, while investing activities used $44.3 million. The restructuring also led to a notable decrease in consolidated assets and liabilities, with total assets reported at $6.97 billion, down from $7.56 billion at year-end 2023. The company's liquidity remains strong, with cash and equivalents at $20.8 million. Future prospects hinge on the performance of the remaining consolidated funds and new investments as BOH navigates the implications of its restructuring.