Wednesday, 20 August 2014
Last updated 44 min ago
May 2 2013 | 10:14am ET
Och-Ziff Capital Management's first-quarter profit more than doubled as the firm enjoyed inflows and higher fee income.
The New York-based hedge fund said its distributable earnings were $136.9 million, up from $57.3 million in the year-earlier period. The publicly-listed firm's assets jumped 16% to $35 billion year-on-year, and continued growing into the second quarter, adding a further $600 million in April.
Revenue soared 92% to $270.4 million. Och-Ziff's profit under generally accepted accounting principles, which includes some costs associated with its 2007 initial public offering, rose to $26.1 million, from a $122.7 million loss a year earlier.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note