Och-Ziff Q1 2010

Och-Ziff Q1 2010

Och-Ziff Profits and Assets Climb in First Quarter 2010

Och-Ziff Capital Management had an extremely first quarter of 2010.  Both profits and assets rose considerably in the beginning of the year giving the firm reason to feel very good about prospects for the rest of the year.  The firm's profit jumped 81% and assets rose 25% year-on-year and it said that it added another $700 million during the last month. 

The New York-based firm’s profit soared 81%, its assets under management continued to rise and its hedge funds extended their winning streak during the first three months of the year. The firm’s distributable profit jumped to $49.2 million, up from $27.2 million a year earlier, although if costs associated with the firm’s 2007 initial public offering are factored in, Och-Ziff was actually in the red in the first quarter. 

Assets under management rose by 25% year-on-year to $25.3% as of April 1, the firm said, adding that it has taken in another $700 million over the last month.
“We are now seeing that the capital inflow cycle for the hedge fund industry is under way and that we have been a leading beneficiary of these inflows,” firm founder Daniel Och said.
The firm’s year-long run of strong performance certainly doesn’t hurt, with all but one of its hedge funds posting stronger-than-average returns in the first quarter.  Source

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