Brookfield Oaktree Holdings, LLC
Business
Brookfield Oaktree Holdings, LLC holds Credit, Real Estate and Equity investments managed by alternative asset managers Oaktree Capital Management and Brookfield Asset Management and both directly invests in funds and other managed investment vehicles and indirectly through its approximately 72% economic interest in Oaktree Capital I. It offers investment products and services including closed-end, open-end and evergreen commingled funds, separate accounts, collateralized loan obligations (CLOs), business development companies (BDCs) and related administrative services. Its activities are organized across three asset classes—Credit, Equity and Real Estate—and reflected through limited partner investments, an equity-method investment in Oaktree Capital I and an indirect interest in a Brookfield REIT. The company serves global institutional and other investors through regional marketing and client relations in the Americas, Asia/Pacific, Europe and the Middle East and via fund vehicles, separate accounts and public preferred units listed on the NYSE.
Summary from filing dated 2025-03-20
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and dividend income | 483 | 490 | 349 | 558 | 389 | |
| Incentive income | 0 | 118 | 267 | 268 | — | |
| Investment income | 197 | 170 | 73 | 51 | 203 | |
| Total revenues | 680 | 778 | 689 | 1,102 | 1,454 | |
| Compensation and benefits | −1 | −1 | −675,000 | −142 | −162 | |
| Incentive income compensation | 0 | −22 | −135 | −94 | −594 | |
| General and administrative | −3 | −3 | −6 | −25 | −22 | |
| Consolidated fund expenses | −84 | −81 | −66 | −78 | −75 | |
| Interest expense | −89 | −100 | −50 | −248 | — | |
| Total expenses | −177 | −207 | −257 | −596 | −866 | |
| Net realized gain on consolidated funds investments | 52 | 66 | 79 | −13 | 22 | |
| Net change in unrealized (depreciation) appreciation on consolidated funds investments | −31 | 151 | 29 | −15 | 123 | |
| Total other income | 21 | 216 | 108 | −28 | 582 | |
| Income before income taxes | 523 | 787 | 540 | 478 | 1,170 | |
| Income taxes | 0 | 0 | 0 | −15 | −12 | |
| Net income | 523 | 787 | 540 | 463 | 1,157 | |
| Net income attributable to Brookfield Oaktree Holdings, LLC | 249 | 308 | 221 | 204 | 632 | |
| Net income attributable to preferred unitholders | −27 | −27 | −27 | −27 | −27 | |
| Net income attributable to Brookfield Oaktree Holdings, LLC Class A unitholders | 222 | 280 | 194 | 176 | 604 | |
| Distributions declared per Class A unit (in dollars per share) | 2.1 | 2.84 | 1 | 1.86 | 4.68 | |
| Net income per Class A unit, basic (in dollars per share) | 1.88 | 2.45 | 1.8 | 1.73 | 6.1 | |
| Net income per Class A unit, diluted (in dollars per share) | 1.88 | 2.45 | 1.8 | 1.73 | 6.1 | |
| Weighted average number of Class A units outstanding, diluted (in shares) | 118 | 114 | 108 | 102 | 99 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-06-30 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Derivative assets, at fair value | 9 | 33 | — | 18 | 24 | |
| Total assets | 6,800 | 7,073 | 1,958 | 7,556 | 5,655 | |
| Derivative liabilities, at fair value | 49 | 13 | — | 31 | 36 | |
| Total liabilities | 1,464 | 1,603 | 1,334 | 1,634 | 1,566 | |
| Commitments and contingencies (Note 14) | — | — | — | — | — | |
| Paid-in capital | 1,778 | 1,663 | — | 1,530 | 908 | |
| (Accumulated deficit) Retained earnings | 76 | 330 | — | 334 | 246 | |
| Unitholders capital attributable to Brookfield Oaktree Holdings, LLC | 2,255 | 2,394 | — | 2,252 | 1,546 | |
| Non-controlling interests in consolidated subsidiaries | 9 | 8 | — | 333 | 361 | |
| Total unitholders capital | 2,264 | 2,401 | — | 2,585 | 1,907 | |
| Total liabilities and unitholders capital | 6,800 | 7,073 | — | 7,556 | 5,655 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net realized and unrealized gain from consolidated funds investments | −21 | −216 | −108 | 28 | −145 | |
| Accretion of original issue and market discount of consolidated funds investments, net | −68 | −80 | −29 | −23 | −14 | |
| Income distributions from corporate investments in funds and companies | 206 | 68 | 63 | 112 | 202 | |
| Other non-cash items | 0 | 3 | −134,000 | — | — | |
| Net cash provided (used) in operating activities | 471 | −539 | −731 | −1,894 | −2,732 | |
| Purchases of U.S. Treasury and other securities | 0 | −250 | 0 | −17 | −16 | |
| Proceeds from maturities and sales of U.S. Treasury and other securities | 0 | 80 | 0 | 13 | 24 | |
| Corporate investments in funds and companies | 0 | −35 | −488 | −308 | −180 | |
| Distributions and proceeds from corporate investments in funds and companies | 66 | 204 | 122 | 85 | 358 | |
| Net cash provided (used) by investing activities | 66 | −1 | −367 | −229 | 185 | |
| Net cash (used) provided by financing activities | −796 | 780 | 1,262 | 1,995 | 2,747 | |
| Effect of exchange rate changes on cash | −253,000 | −10 | 856,000 | −26 | −25 | |
| Net (decrease) increase in cash and cash-equivalents | −259 | 230 | 165 | −155 | 175 | |
| Deconsolidation due to restructuring | 0 | −9 | 0 | −94 | — | |
| Deconsolidation of funds | 0 | −108 | −5 | −734 | — | |
| Cash paid for interest | 93 | 89 | 48 | 203 | 127 | |
| Net assets related to the deconsolidation of funds | 0 | 747 | 5 | 330 | 350 | |
| Net assets related to the deconsolidation due to 2024 Restructuring | 0 | 1,787 | 0 | 468 | 0 |