Och-Ziff Tops Earnings Estimates, Assets Fall

Nov 4 2008 | 10:32am 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

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

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

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of