<SEC-DOCUMENT>0001209191-15-024327.txt : 20150309
<SEC-HEADER>0001209191-15-024327.hdr.sgml : 20150309
<ACCEPTANCE-DATETIME>20150309204158
ACCESSION NUMBER:		0001209191-15-024327
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150306
FILED AS OF DATE:		20150309
DATE AS OF CHANGE:		20150309

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Oaktree Capital Group, LLC
		CENTRAL INDEX KEY:			0001403528
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		333 SOUTH GRAND AVENUE
		STREET 2:		28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
		BUSINESS PHONE:		(213) 830-6300

	MAIL ADDRESS:	
		STREET 1:		333 SOUTH GRAND AVENUE
		STREET 2:		28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KARSH BRUCE A
		CENTRAL INDEX KEY:			0001187256

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35500
		FILM NUMBER:		15686859

	MAIL ADDRESS:	
		STREET 1:		1201 TOWER GROVE DRIVE
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90210
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2015-03-06</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001403528</issuerCik>
        <issuerName>Oaktree Capital Group, LLC</issuerName>
        <issuerTradingSymbol>OAK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001187256</rptOwnerCik>
            <rptOwnerName>KARSH BRUCE A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OAKTREE CAPITAL GROUP, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>333 SOUTH GRAND AVENUE, 28TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90071</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>See Remarks</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class B Units</value>
            </securityTitle>
            <transactionDate>
                <value>2015-03-06</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>4000000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>105910421</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>OCGH Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
                <footnoteId id="F6"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2015-03-06</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>815868</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>51.70</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F5"/>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
                <footnoteId id="F6"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Units</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>815868</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>18231403</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">In connection with the March 2015 public offering (the &quot;Offering&quot;) of the Issuer's Class A units (&quot;Class A units&quot;), certain holders of  limited partnership units (&quot;OCGH units&quot;) in Oaktree Capital Group Holdings, L.P. (&quot;OCGH&quot;) exchanged 4,000,000 vested OCGH units for cash pursuant to an exchange agreement.  Upon the exchange of such OCGH units, 4,000,000 of the Issuer's Class B units (&quot;Class B units&quot;) were cancelled by the Issuer.</footnote>
        <footnote id="F2">OCGH holds 105,910,421 Class B units.  The general partner of OCGH is Oaktree Capital Group Holdings GP, LLC (&quot;OCGH GP&quot;).  In their capacities as members of the executive committee of OCGH GP holding more than 50% of the aggregate number of OCGH units held by all of the members of the executive committee as a group, the Reporting Person and Howard Marks, the Issuer's Co-Chariman, may be deemed to be beneficial owners of the securities held by OCGH.</footnote>
        <footnote id="F3">Pursuant to Rule 16a-1(a)(4) of the Securities Exchange Act of 1934, as amended, the Reporting Person states that this filing shall not be deemed to be an admission that the Reporting Person is the beneficial owner of any of the Class B units reported herein, and the Reporting Person disclaims beneficial ownership of such securities, except to the extent of the Reporting Person's pecuniary interest therein.  Since March 10, 2014 and without giving effect to the Class B units cancelled in connection with the Offering, the number of Class B units held by OCGH has increased by 705,371 Class B units, which reflects the net effect of the issuance and cancellation of Class B units by the Issuer in connection with the issuance or the redemption and cancellation, respectively, of OCGH units.</footnote>
        <footnote id="F4">In connection with the Offering, the Reporting Person exchanged 815,868 OCGH units for cash at a purchase price per OCGH unit of $51.70, which is equal to the price per Class A unit in the Offering paid to the Issuer by the underwriter, with adjustments to account for the Reporting Person's disproportionate interest in the historical incentive income of certain of the Issuer's closed-end funds, as further described in footnotes 5 and 6 below.</footnote>
        <footnote id="F5">Each OCGH unit represents a limited partnership interest in OCGH. Pursuant to an exchange agreement and subject to certain restrictions, including the approval of the exchange by the Issuer's board of directors, each holder of OCGH units has the right to exchange his or her vested OCGH units into, at the option of the Issuer's board of directors, Class A units on a one-for-one basis, an equivalent amount of cash based on then-prevailing market prices, other consideration of equal value or any combination of the foregoing, with adjustments, as applicable, to account for the disproportionate sharing among certain OCGH unitholders of the historical incentive income of certain of the Issuer's closed-end funds that held their final closing before the Issuer's May 2007 restructuring. (Continued in footnote 6)</footnote>
        <footnote id="F6">The adjustments will be made pursuant to the OCGH limited partnership agreement to account for the fact that, as a result of the May 2007 restructuring, the interests of certain OCGH unitholders in historical incentive income are disproportionately larger or smaller than their pro rata interest in the Issuer's business, depending on when the unitholder's interest in the Issuer's business was acquired.</footnote>
    </footnotes>

    <remarks>Co-Chairman and Chief Investment Officer</remarks>

    <ownerSignature>
        <signatureName>/s/ Richard Ting, Attorney-in-fact</signatureName>
        <signatureDate>2015-03-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
