Och-Ziff Tops Earnings Estimates, Assets Fall

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.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...