Och-Ziff Capital Reports Gains & Future Plans

November 6th, 2010
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Contributed by: Emerging Manager Focus
Och-Ziff Capital Management Group gave a glimpse into its investment progression Tuesday when hedge fund manager Daniel Och revealed that the fund will push its, “investment track record, transparency and infrastructure as the key drivers to furthering our competitive differentiation over time.”

On Tuesday the company reported that its quarterly distributable earnings increased from $34.2 million in the period a year earlier, to $52.1 million for the 2010 third quarter. “During the third quarter and in the month of October, we again generated positive, risk-adjusted returns,” said Daniel Och, Chairman and Chief Executive Office of Och-Ziff. “The investment environment has improved relative to the first half of 2010, and we saw new opportunities in many of our strategies to which we have deployed capital.”

The company did report a net loss of $93.5 million for the third quarter, down from last year’s third quarter result of $80 million. The loss was associated with the company’s reorganization costs from its initial public offering in November 2007, the company said. The costs are expected to extend through 2012, but have nothing to do with the company’s results.

The company also revealed that it will focus on manager selection, saying, “We remain confident that capital allocations to alternative asset managers will be significant, but think that the environment has further reinforced the importance of manager selection.”

Och-Ziff’s main fund, the OZ Master Fund, increased by 26 % year on year. The OZ Asia Master Fund also increased by 7% year on year, while the OZ Europe Master Fund remained unchanged. The OZ Global Special Investments Master Fund was down 40% year on year.

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For Detailed Investor Profiles on these Investors, click below:
Och-Ziff Capital Management
Related People: Daniel Och; David Windreich; Harold Kelly; Michael Cohen*; Zoltan Varga
Related Entities: Och-Ziff Capital Structure Arbitrage; OZ Credit Opportunities; OZ Master Fund; Ziff Brothers
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Resources and Featured Partner News


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