Saturday, 25 October 2014
Last updated 22 hours ago
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.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.