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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


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