Monday, 22 September 2014
Last updated 1 hour 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."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.