Aug 2 2013 | 10:03am ET
Och-Ziff Capital Management posted a 15% jump in second-quarter profit, as performance fee income helped the firm top analysts' estimates.
The New York-based hedge fund had distributable earnings of $77.5 million in the second quarter, up from $67.2 million. The figures exclude costs related to its initial public offering six years ago.
Revenue rose 16% to $207.8 million from $178.4 million. Incentive income rose 24% to $22.9 million, management fee income 9% to $139.5 million and assets under management to $36.6 billion in the quarter. In the month since, Och-Ziff has added another $100 million to that figure.
Jan 30 2018 | 9:49pm ET
As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...
May 24 2017 | 9:25pm ET
Starting in 2019, financial industry executives sitting for the coveted Chartered...
Feb 14 2018 | 9:57pm ET
Tasked with delivering returns on client capital, a common dilemma for many alternative...