Greenlight, Och-Ziff Up In August

Sep 2 2010 | 11:15am ET

A pair of major New York hedge funds bucked swooning markets and the marginal losses suffered by its average peers with positive performance last month.

Greenlight Capital and Och-Ziff Capital Management both padded their year-to-date returns in August, although the former did so much more than the latter. Greenlight rose 4.1% net of fees, its Greenlight Capital Re said today. The return pushed the $6.8 billion hedge fund into the black for the third quarter and for 2010—it is now up 1.4% since the end of June and about 2% on the year.

By contrast, the average hedge fund fell slightly and the Standard & Poor’s 500 Index dropped almost 5%.

According to Greenlight Capital Re, Greenlight’s biggest positions are in CIT Group, Ensco, Pfizer, Vodafone Group and gold.

Och-Ziff’s four hedge funds posted much more modest returns, rising between 0.3% and 0.7% on the month. The small gains resulted in a relatively small increase in assets under management in August, with the $26.1 billion firm adding $200 million, just one-third the amount it grew by in July.

The firm’s flagship OZ Master Fund and its Asia Master Fund each returned 0.3% last month, with the former up 2.96% on the year. Its Global Special Investments fund added 0.5% in August and is up 5.4% on the year, while its Europe Master fund rose 0.7% in August.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...