Saturday, 18 April 2015
Last updated 7 hours ago
May 3 2011 | 12:39pm ET
Och-Ziff Capital Management reported a first quarter net loss of $95.5 million for Q1 2011, up from $88.6 million a year earlier, and attributed to charges stemming from its 2007 initial public offering.
The hedge fund manager said higher management fees drove a 33% year-on-year hike in its “distributable earnings” to $65.2 million or 16 cents per Class A share.
Higher management fees and incentive incomes increased 26% to $138.4 million, while assets under management increased to $29.4 billion as of May 1 (compared to $27.6 billion as of January 1).
Och-Ziff also reported estimated year-to-date net returns (through April 30, 2011) of 4.1% for its Master Fund, 4.0% for its Europe Master Fund, 2.4% for its Asia Master Fund and 5.5% for its best performer, the Global Special Investments Master Fund.
"We believe that capital inflows into the hedge fund industry are accelerating as institutional investors seek to increase the proportion of non-correlated strategies in their portfolios," said Daniel Och, chairman and chief executive. "We remain confident that we are viewed as a manager of choice, which we believe positions us to attract a meaningful share of new industry flows."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…