11 Feb 2010
Och-Ziff Capital Management Group LLC reported a rise in assets under management to an estimated $24 billion at February 1, up from $22.1 billion on January 1, 2009. Though well below the firm’s AUM in 2007, the increase underscores the continuing revival of hedge fund investing and the ongoing fund performance.
Och-Ziff said a $500 million gain in AUM in January reflected capital inflows of approximately $250 million and performance-related appreciation of approximately $250 million. Full-year net returns through December 31, 2009 were: for the OZ Master Fund 23.1%, the OZ Europe Master Fund 16.4%, the OZ Asia Master Fund 34.0% and the OZ Global Special Investments Master Fund of 8.4%.
For the 2009 fourth quarter, Och-Ziff reported a GAAP Net Loss of $47.2 million, or $0.58 per basic and diluted Class A Share, compared to a GAAP Net Loss of $112.2 million, or $1.49 per basic and diluted Class A Share, for the 2008 fourth quarter. For the 2009 full year, Och-Ziff reported a GAAP Net Loss of $297.4 million, or $3.79 per basic and diluted Class A Share, compared to a GAAP Net Loss of $510.6 million, or $6.86 per basic and diluted Class A Share, for the 2008 full year.
Och-Ziff said a $500 million gain in AUM in January reflected capital inflows of approximately $250 million and performance-related appreciation of approximately $250 million. Full-year net returns through December 31, 2009 were: for the OZ Master Fund 23.1%, the OZ Europe Master Fund 16.4%, the OZ Asia Master Fund 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 CEO. “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.”
Och added: “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.”
For the 2009 fourth quarter, Och-Ziff reported a GAAP Net Loss of $47.2 million, or $0.58 per basic and diluted Class A Share, compared to a GAAP Net Loss of $112.2 million, or $1.49 per basic and diluted Class A Share, for the 2008 fourth quarter. For the 2009 full year, Och-Ziff reported a GAAP Net Loss of $297.4 million, or $3.79 per basic and diluted Class A Share, compared to a GAAP Net Loss of $510.6 million, or $6.86 per basic and diluted Class A Share, for the 2008 full year.
