Assets under management at Och-Ziff Capital Management Group jumped 25% in the year ended March 31 to $25.3 billion, according to a company statement issued Tuesday.
The hedge fund firm had net inflows of $1.03 billion during the quarter ended March 31, compared with net outflows of $5.09 billion a year earlier, the statement said.
“We are now seeing that the capital inflow cycle for the hedge fund industry is under way and that we have been a leading beneficiary of these inflows,” the company said in the statement. “Based on our dialogue with fund investors, we expect this trend to continue, and as a result we should experience additional growth in assets under management over time.”
“Our year-to-date results were driven by our multistrategy, multigeographic approach, and by opportunities in structured credit, distressed credit and equity restructuring in the U.S. and Europe and convertible arbitrage in Asia,” the statement said.
The firm also said assets have jumped another $700 million since the end of the quarter, according to a regulatory filing Tuesday.
Hedge fund industry assets stood at $1.5 trillion at the end of the quarter, according to Eurekahedge, compared with a peak of $1.9 trillion in mid-2008. Hedge funds returned an average of 3.1% in the period, according to the Credit Suisse Tremont index.
