Sunday, 30 August 2015
Last updated 1 day ago
Aug 2 2012 | 11:43am ET
Och-Ziff Capital Management reported a wider net loss and slightly lower distributable earnings for the second quarter—but things could have been worse.
The hedge fund giant's $67.2 million in distributable earnings, which exclude closts related to its initial public offering, was $500,000 less than the year-earlier period. But it was good enough to top analysts' estimates for what founder Daniel Och called a "difficult and often volatile market."
Och-Ziff's net loss according to generally accepted accounting principles was $116.2 million, up from $93.4 million. The firm's assets were flat year-on-year, but rose by $1 billion to $30.3 billion over the last month.
Och-Ziff also said it would pay a 14 cent dividend. In the first quarter, it paid 10 cents.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…