Och-Ziff Profits Soar

Feb 6 2014 | 12:20pm ET

Och-Ziff Capital Management's strong hedge-fund returns helped it top analysts' expectations in the fourth quarter.

The publicly-listed hedge fund said its distributable earnings in the last three months of 2013 were $559 million, 59% better than the fourth quarter of 2012, when it earned $351.3 million.

"Last year was an outstanding year for us, and demonstrated the strength of our firm globally," firm founder Daniel Och said. "Last year was also reflective of the progress we made towards our strategic goal of becoming a global, multi-product, alternative asset manager. We grew to a record level of assets under management, earned record revenues and distributable earnings, and paid a record full-year dividend. We are extremely pleased with these results. As we begin our seventh year as a public company and our twentieth year in business, we are confident that Och-Ziff is better positioned competitively than it has ever been."

Och Ziff's flagship Master Fund returned 13.87% last year and was up 3.77% in the fourth quarter. Its Asia Master Fund added 13.51% on the year and 3.23% on the quarter, and its Europe Master Fund rose 12.36% on the year and 4.19% on the quarter. All three, funds, however, lost ground last month, falling 0.27%, 3.1% and 0.07%, respectively.

Assets under management stood at $40.2 billion at the end of last year, 23% higher than at the end of 2012. Och-Ziff added a further $1.1 billion in assets in January.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note