Och-Ziff Capital Management Announces Q1 2011 Results
|May 4th, 2011||
|Och-Ziff Capital Management, global asset manager of multi-strategy hedge funds and managed accounts, reported its first quarter results for 2011. Daniel S. Och, the Chairman and Chief Executive Officer of Och-Ziff said, “the value of our investment process was again readily apparent during the first quarter and in April. We continued to generate positive, risk-adjusted returns, with low volatility and low correlation to the equity markets, while also protecting investor capital. Our performance demonstrates the flexibility that our multi-strategy approach and international capabilities provide, enabling us to quickly respond to changes in the economic environment and capitalize on investment opportunities globally.”|
Assets under Management
According to the press release, “performance-related appreciation was principally driven by credit-related strategies and long/short equity special situations globally.”
Och-Ziff reported a GAAP Net Loss of $95.5 million for the first quarter of 2011. The GAAP Net Loss “primarily resulted from non-cash reorganization expenses of $405.9 million.” Och-Ziff’s Distributable Earnings for the quarter were $65.2 million, which represented a 33% increase compared to the first quarter of 2010.
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