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Och-Ziff Capital gains momentum and assets

|Includes: Och-Ziff Capital Management Group LLC (OZM)

Och-Ziff Capital Management (NYSE:OZM), global asset manager of multi-strategy hedge funds and managed accounts, reported its first quarter results for 2011 this week. Daniel S. Och, the Chairman and Chief Executive Officer of Och-Ziff said, “the value of our investment process was again readily apparent during the first quarter and in April. We continued to generate positive, risk-adjusted returns, with low volatility and low correlation to the equity markets, while also protecting investor capital. Our performance demonstrates the flexibility that our multi-strategy approach and international capabilities provide, enabling us to quickly respond to changes in the economic environment and capitalize on investment opportunities globally.”

Assets under Management

Och-Ziff Capital announced that assets under management reached $29.4 billion as of May 1, 2011, representing $400 million in net capital inflows and $1.1 billion in appreciation related to performance. From a year-over-year perspective, Och-Ziff’s assets were $29.0 billion as of March 31, 2011 compared to $24.8 billion as of March 31, 2010.

  3/31/11 3/31/10  
Assets Assets %
Fund Name ($B) ($B) Change
OZ Master Fund 20.1 18.1 11%
OZ Europe Master Fund 2.9 3.0 -2%
OZ Asia Master Fund 1.6 1.3 23%
OZ Global Special Investments Master Fund 1.2 1.2 -1%
Other 3.2 1.2 151%

Investment Performance

According to the press release, “performance-related appreciation was principally driven by credit-related strategies and long/short equity special situations globally.”

Fund Name Q1 2011
OZ Master Fund 3.36%
OZ Europe Master Fund 3.57%
OZ Asia Master Fund 1.45%
OZ Global Special Investments Master Fund 4.62%

Och-Ziff reported a GAAP Net Loss of $95.5 million for the first quarter of 2011. The GAAP Net Loss “primarily resulted from non-cash reorganization expenses of $405.9 million.” Och-Ziff’s Distributable Earnings for the quarter were $65.2 million, which represented a 33% increase compared to the first quarter of 2010.

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Assets under Management