Och-Ziff Assets, Revenues Rise Before IPO

Oct 23 2007 | 7:38am ET

Och-Ziff Capital Management reported an increase in assets under management in advance of its planned initial public offering.

The New York-based hedge fund said its assets under management rose 3.4% to $30.1 billion, as net inflows offset a decline in the value of its funds. In the third quarter, investors added $1.2 billion to funds, as the markets knocked off $146.5 million. In spite of the negative performance, Och-Ziff said that recent market troubles did not substantially hurt its funds.

The firm, one of the largest hedge funds in the U.S., plans to list on the New York Stock Exchange next month. It hopes to raise $1.1 billion in the share sale.

While investors continue to flock to the firm, increasing compensation costs may raise eyebrows: The firm posted a $140.5 million net loss in the first nine months of the year, compared to a $135 million profit in the same period last year. Still, revenues rose 11% to $731.8 million.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).