Benedicte Gravrand, Opalesque Geneva: - Och-Ziff, one of the largest institutional alternative asset managers around, today reported GAAP Net Income of $50.7m for the fourth quarter of 2012 and a GAAP Net Loss of $315.8m for the full year.
At the same time, the firm’s assets under management (AuM) ended the year at $32.6bn – 4% higher than the previous quarter, and 13% higher than 2011 ($28.8bn). The year-over-year increase of assets was driven by performance-related appreciation of $3.4bn and capital net inflows of $479.6m, which included approximately $985.9m of collateralized loan obligation assets.
The OZ Master Fund returned +11.6% in 2012, the OZ Europe Master Fund +8.6%, the OZ Asia Master Fund +7% and the OZ Global Special Investments Master Fund +9.8%. The momentum was continued in January 2013, as estimated net returns for the month in the OZ Master Fund is +1.9%, the OZ Europe Master Fund +3.4%, the OZ Asia Master Fund +3.7% and the OZ Global Special Investments Master Fund +0.5%.
The yearly GAAP net loss of $315.8m is an improvement from 2011’s net loss of $419m, driven by "higher incentive income due to improved investment performance in the Company's funds and lower non-cash expenses associated with the Company's reorganization in connection with its initial public offering ("IPO") in November 2007," according to Och-Ziff's ......................
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