Och-Ziff posts 13.2% AUM growth in 2012
By Christine Williamson | February 7, 2013 2:35 pm
Och-Ziff Capital Management Group, New York, reported that assets under management totaled $32.6 billion as of Dec. 31, up 13.2% from $28.8 billion a year earlier.
The firm's growth in 2012 was due to strong performance of its investment strategies, said Daniel S. Och, chairman and CEO, in the alternative investment manager's earnings report, released Thursday.
Net of fees, one-year returns of the firm's flagship investment funds as of Dec. 31 were OZ Master Fund, 11.6%; OZ Europe Master Fund, 8.6%, OZ Asia Master Fund, 7.0%; and OZ Global Special Investments Master Fund, 9.8%.
During 2012, Och-Ziff Capital Management increased the percentage of its assets managed for institutional investors by two percentage points to 30%, according to a transcript of Thursday's earnings analyst call.
Looking forward to 2013, "we believe more than ever that the secular growth opportunity for hedge funds is intact as institutional investors seek to mitigate risk and enhance the returns in their portfolios. We have seen increasing levels of interest in Och-Ziff and believe that the performance of our multistrategy funds in 2012, as well as the performance and expansion of our credit products, position us to grow,” Mr. Och said in the earnings report.
Och-Ziff also reported Thursday that its net income under generally accepted accounting principles totaled $50.7 million in the quarter ended Dec. 31, but that net income was down $315.8 million in calendar year 2012.
As of Dec. 31, 2011, Och-Ziff suffered a GAAP net loss of $137 million in the fourth quarter and a net loss of $419 million for the 12-month period.