Och-Ziff Capital Management Group reported $45.9 billion in assets under management as of June 30, an increase of 14.2% from three months earlier and up 25.4% from a year earlier.
The increase was due to $2.6 billion in net inflows and $673 million in appreciation during the quarter. The company had $4.8 billion in net inflows during the first six months of 2014.
Chairman and CEO Dan Och said during Tuesday's earnings call that private bank platforms and pension funds remain primary drivers of asset flows.
Globally, Mr. Och said, “we believe that pension funds and other institutions will continue to increase their allocations to alternative asset managers and that we will be a substantial beneficiary of the secular trends as we further expand and diversify our business.”
AUM by fund type was 74.1% multistrategy funds, 11.1% credit, 8.7% collateralized debt obligations, 3.7% real estate and 2.4% other.
A year ago, multistrategy funds accounted for 79.8% of AUM.
Net returns by fund during the quarter were OZ Master Fund, 1.72%; OZ Asia Master Fund, 0.03% and OZ Europe Master Fund, -1.89%.
The S&P 500 and MSCI World (local currency) indexes returned 5.23% and 4.61%, respectively, during the quarter.
Revenue in the quarter totaled $262.5 million, down 8% from the first quarter and up 14.5% from the year-earlier quarter. The year-over-year increase was driven largely by higher management fees in line with the increase in assets under management.
Second-quarter net income of $153.2 million was down 7.5% from the first quarter and up 40% from a year ago.