Och-Ziff Assets, Earnings Rise In Q3

Nov 3 2010 | 2:56am ET

Och-Ziff Capital Management said its third-quarter profit jumped more than 50% thanks to continuing inflows into its hedge funds.

Distributable earnings at the New York-based firm were $52.1 million, up from $34.2 million a year earlier. Och-Ziff actually took a book loss of $93.5 million after taking into account charges largely stemming from its initial public offering three years ago.

Revenue was up 24% to $114 million.

The hedge fund said that its assets under management were up 19% since the third quarter of last year to $26.5 billion, pushing management fee income up 22%. Most of the increase in assets came from inflows, which totaled $2.4 billion, with the balance coming from performance gains totaling $1.7 billion.

Och-Ziff added that it is currently managing $27.2 billion, 2.6% more than at the end of the third quarter.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of