Saturday, 1 November 2014
Last updated 15 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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