Och-Ziff reports record assets that help boost earnings

BOSTON Tue Aug 5, 2014 7:44am EDT

BOSTON Aug 5 (Reuters) - Hedge fund company Och-Ziff Capital Management Group LLC reported higher quarterly earnings on Tuesday as assets rose to record levels amid fresh demand for portfolios that invest in real estate, stocks and credit.

The New York-based company, one of only a handful of publicly listed hedge fund firms, reported second-quarter distributable earnings of $90.4 million, or 18 cents a share, as assets under management hit $45.9 billion on June 30.

Distributable earnings exclude costs from Och-Ziff's November 2007 initial public offering.

Results matched Wall Street analysts' forecast, according to Thomson Reuters I/B/E/S. A year earlier the company earned $77.5 million, or 16 cents a share. (Reporting by Svea Herbst-Bayliss; Editing by Lisa Von Ahn)

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