Och-Ziff Capital Management Group today reported assets under management as of Dec. 31 totaled $23.1 billion, up 3.6% from the end of the third quarter, but still down 14.4% from the end of 2008.
The $3.9 billion decline in assets in 2009 resulted from $8.1 billion of net outflows, offset by $4.2 billion of performance gains, according to the hedge fund manager's fourth-quarter earnings report.
Och-Ziff estimated that assets under management as of Feb. 1 totaled $24 billion, the result of approximately $250 million of net inflows and about $250 million of performance gains in January.
“2009 turned out to be a very strong year for us … both on (an) absolute and relative basis for our fund investors. We ended the year having surpassed the high watermarks on our assets under management, with the OZ Master Fund having one of the best years ever and our Asia Master Fund achieving record performance,” said Daniel Och, CEO, during the firm's earnings call.
All Och-Ziff's hedge funds had positive performance in the year ended Dec. 31, according to the earnings report. The OZ Asia Master Fund returned 33.96% for the period; OZ Master Fund, 23.11%; OZ Europe Master Fund, 16.43%; and OZ Global Special Investments Master Fund, 8.42%.
Mr. Och said during the earnings call that “there is strong interest in Och-Ziff among institutional investors, and their confidence in taking on more (investment) risk has continued to rise … We believe that the capital inflow cycle for hedge funds has begun and that our assets under management will grow.”