Saturday, 1 August 2015
Last updated 18 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…