Tuesday, 23 September 2014
Last updated 1 min ago
Nov 4 2008 | 9:32am ET
Amidst all the awful news for hedge funds, Och-Ziff Capital Management offers a positive story.
The New York hedge fund firm said today that its third-quarter net loss had narrowed to $69.4 million. In the year-earlier period, the firm, which went public last year, lost $339.9 million.
Och-Ziff also enjoyed better distributable earnings than expected: That widely-watched number stood at 14 cents per share, a penny better than analysts’ estimates. The firm also posted higher revenue, $157 million, up from $147 million a year ago.
The numbers weren’t all so rosy for Och-Ziff. The firm’s assets under management fell by 7% during the third quarter. Its AUM is still up 4% since the third quarter of 2007.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.