Monday, 1 September 2014
Last updated 3 days ago
Feb 7 2013 | 11:13am ET
Och-Ziff Capital Management's quarterly profit jumped nearly 20-fold in the fourth quarter, as the firm closed out a strong year for its hedge funds.
The New York-based hedge fund said its distributable earnings, which exclude costs related to its initial public offering five years ago, were $351.3 million, up from $16.8 million in the year-earlier period. Much of the jump was due to a 13-fold increase in performance fee income, which was $568 million.
Och-Ziff's flagship Master Fund rose 11.6% last year, compared to a 0.5% loss in 2011. CEO Daniel Och hailed those "strong" returns and noted a "strong start to 2013."
Och-Ziff's assets under management reached $33.1 billion at the beginning of this month.
The firm said it would pay a 75-cent dividend, easily topping analysts' expectations for a 66-cent payout. In the third quarter, Och-Ziff paid a 12-cent dividend.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...