Saturday, 4 July 2015
Last updated 1 day 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…