Och-Ziff Profits Soar

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of