Och-Ziff All Smiles In Spite Of $775M Loss

Feb 26 2008 | 12:26pm ET

Och-Ziff Capital Management today reported a big fourth-quarter loss, but an exceedingly bright outlook.

In its first earnings report since going public in November, the New York hedge fund giant recorded a $774.6 million loss, compared to a $453 million profit in the fourth quarter of 2006. It blamed the loss on $3.3 billion in reorganization costs associated with its initial public offering.

With the exception of that big red blot, Och-Ziff’s debut earnings report had nothing but good news. It reported distributable earnings of $1.27 per share, well above analysts’ expectations. Assets under management soared 48% to $33.4 billion, driving management fees up 53% to $135.1 million.

“We believe we can accelerate our growth through the continued expansion of our private investment platforms and private portfolios, which we expect to become meaningful contributors to our earnings power over time,” CEO Daniel Och said.

The firm’s flagship hedge fund, OZ Master, added 28%, thanks both to strong performance and big inflows, and now manages some $19.8 billion.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.