(Reuters) – Oaktree Capital Group 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.