Thu, Sep 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Och Ziff Capital 4Q09/year end results show 2009 assets 6% through performance gains, $2.8bn in outflows offset by $4.2bn in performance increase

Thursday, February 11, 2010
Opalesque Industry Updates - Och-Ziff Capital Management Group LLC (NYSE:OZM) (the “Company” or “Och-Ziff”) today reported a GAAP Net Loss1 for the fourth quarter and full year ended December 31, 2009 of $47.2 million, or $0.58 per basic and diluted Class A Share, and $297.4 million, or $3.79 per basic and diluted Class A Share, respectively. The Company also declared a $0.58 per share fourth quarter cash dividend on its Class A Shares.

Summary Highlights

• Distributable Earnings for the 2009 fourth quarter and full year of $281.4 million, or $0.69 per Adjusted Class A Share, and $355.3 million, or $0.88 per Adjusted Class A Share, respectively

• Assets under management of $23.5 billion as of January 1, 2010, a 6% increase from $22.1 billion as of January 1, 2009, reflecting performance-related appreciation of $4.2 billion partially offset by $2.8 billion in net outflows

Estimated assets under management of $24.0 billion as of February 1, 2010, reflecting capital inflows of approximately $250 million and performance-related appreciation of approximately $250 million

• Full-year net returns through December 31, 2009 for the OZ Master Fund of 23.1%, the OZ Europe Master Fund of 16.4%, the OZ Asia Master Fund of 34.0% and the OZ Global Special Investments Master Fund of 8.4%

“Last year was a very strong year for us, both on an absolute and a relative basis,” said Daniel Och, Chairman and Chief Executive Officer of Och-Ziff. “We surpassed the high-water marks on our assets under management, with our OZ Master Fund having one of its best years ever and our Asia Master Fund achieving record performance. We maintained a disciplined focus on our long-standing investment and risk management processes which, when combined with the flexibility of our multi-strategy approach and the stability of our model, was central to the strength of our returns last year. We believe these attributes, which have continued to serve us well in 2010, position us to generate strong performance for our fund investors over the long term.

“We believe that the capital inflow cycle for the hedge fund industry has begun, and that our assets under management will grow over time. Institutional investors remain extremely focused on manager selection, and we remain confident that our track record, infrastructure and demonstrated alignment of interests with our fund investors will continue to differentiate us in the marketplace.”

Corporate website: Source

KB

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style