Och-Ziff reports record assets that help boost earnings
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)
- U.S. and Arab allies launch first strikes on fighters in Syria |
- D'Souza gets community confinement for election law violation
- Three killed, including shooter, at UPS facility in Alabama
- Israel downs Syrian warplane it says violated its Golan airspace
- Argentina's Fernandez to meet billionaire investor Soros in New York