Monday, 30 November 2015
Last updated 2 min 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."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…