Monday, 27 April 2015
Last updated 2 hours ago
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."
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…