Och-Ziff Profit, Assets Soar

May 4 2010 | 12:22pm ET

By just about every metric, the first quarter was very kind to Och-Ziff Capital Management.

The New York-based firm’s profit soared 81%, its assets under management continued to rise and its hedge funds extended their winning streak during the first three months of the year. The firm’s distributable profit jumped to $49.2 million, up from $27.2 million a year earlier, although if costs associated with the firm’s 2007 initial public offering are factored in, Och-Ziff was actually in the red in the first quarter.

Assets under management rose by 25% year-on-year to $25.3% as of April 1, the firm said, adding that it has taken in another $700 million over the last month.

“We are now seeing that the capital inflow cycle for the hedge fund industry is under way and that we have been a leading beneficiary of these inflows,” firm founder Daniel Och said.

The firm’s year-long run of strong performance certainly doesn’t hurt, with all but one of its hedge funds posting stronger-than-average returns in the first quarter.


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