Och-Ziff Profit, Assets Rise

Aug 2 2011 | 12:48pm ET

Och-Ziff Capital Management's second-quarter distributable earnings jumped 19% as revenue from higher fee income rose 13%.

The New York-based hedge fund actually posted a loss of $93.4 million, 4.4% higher than a year earlier, due to charges from its initial public offering four years ago. But distributable earnings increased from $57 million to $67.7 million, topping analysts' estimates, on $128 million in revenue.

Assets under management at the firm were up $900 million between the end of the first quarter and Aug. 1 at $29.9 billion, a 17% jump from a year earlier.

"Investors continue to actively seek access to investment managers that generate risk-adjusted returns which have a low correlation to the equity markets and consistently protect capital," founder Daniel Och said. "We believe that this focus has led to increased allocations to the hedge fund industry in the first half of this year, and that this acceleration will continue."


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note