Och-Ziff Profit Drops On Weaker Performance

May 2 2014 | 12:22pm ET

Och-Ziff Capital Management’s first-quarter profit fell 7% on higher compensation costs and lower hedge fund performance, the firm said.

New York-based Och-Ziff's distributable earnings fell to $127.8 million from $136.9 million in the first quarter of last year. Net income dipped to $23.9 million from $30 million.

Och-Ziff’s funds all lost ground in the first four months of the year. Its flagship OZ Master Fund is down 0.93% through April, its OZ Europe Master Fund 1.33% and OZ Asia Master Fund 9.18%. Consequently, incentive fee income fell by 40% on the quarter, to $59 million.

But assets under management continued to grow, with $3.6 billion in inflows through April. Och-Ziff now manages $43.5 billion.

The lower results were still good enough to easily top analysts’ estimates.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of