Friday, 22 May 2015
Last updated 3 hours 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.
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…