Och-Ziff Capital Management Group reported $29 billion in assets under management in the quarter ended March 31, up 3.9% from the previous quarter and 16.9% higher than a year ago, according to the company’s earnings report Tuesday.
The $4.2 billion increase over the 12-month period was the result of $2.4 billion of investment performance and net inflows of $1.8 billion.
Och-Ziff’s AUM as of May 1 totaled $29.4 billion, the result of investment returns of $200 million and net inflows of $200 million received in April, according to the earnings report.
The company’s first-quarter distributable earnings were $65.2 million, up 33% from a year earlier. The company reported a GAAP net loss of $95.5 million in the first quarter.
Och-Ziff’s four main funds saw positive returns in the quarter. OZ Master Fund returned 3.35%; OZ Europe Master Fund, 3.57%; OZ Asia Master Fund, 1.45%; and OZ Global Special Investments Master Fund, 4.62%. The HFRI Fund Weighted Composite index returned 1.6% in the quarter.
“These returns were generated with a fraction of the volatility of the S&P 500 index. Our year-to-date performance is primarily driven by our credit-related strategies, and equity long/short, as we saw a diverse range of high-quality investment opportunities worldwide,” said Daniel S. Och, chairman and CEO, in a transcript of Tuesday’s earnings call. “As I mentioned on our last call, we see increasing opportunities in merger-driven investing, due to the ongoing restructuring of business globally.”