Och-Ziff Profit Doubles, Assets Hit Record

Nov 5 2013 | 10:09am ET

Och-Ziff Capital Management's third-quarter profit more than doubled on strong performances from its major hedge funds.

The New York-based firm said its distributable earnings jumped to $130.3 million, easily topping analysts' estimates. Three of Och-Ziff's hedge funds are up double-digits this year, pushing its incentive-fee income up nine-fold on the quarter to $72.3 million.

Och-Ziff also said its assets under management rose to a new record in the quarter, at $37.8 billion, 21% higher than at the end of the third quarter of last year. And it broke that record on Friday, when inflows pushed its asset level to $38.5 billion.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...