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.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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