Och-Ziff Capital Management has reported a GAAP net loss for the fourth quarter and full year ended 31 December 2009 of USD47.2m, or USD0.58 per basic and diluted class A share, and USD297.4m, or USD3.79 per basic and diluted class A share, respectively.
The company has also declared a USD0.58 per share fourth quarter cash dividend on its class A shares.
Distributable earnings for the 2009 fourth quarter and full year were USD281.4m, or USD0.69 per adjusted class A share, and USD355.3m, or USD0.88 per adjusted class A share, respectively.
Assets under management were USD23.5bn as of 1 January 2010, a six per cent increase from USD22.1bn as of 1 January 2009, reflecting performance-related appreciation of USD4.2bn partially offset by USD2.8bn in net outflows.
Estimated assets under management were USD24.0bn as of 1 February 2010, reflecting capital inflows of approximately USD250m and performance-related appreciation of approximately USD250m.
Full-year net returns through 31 December 2009 for the Oz Master Fund were 23.1 per cent, the Oz Europe Master Fund 16.4 per cent, the Oz Asia Master Fund 34.0 per cent and the Oz Global Special Investments Master Fund 8.4 per cent.
“Last year was a very strong year for us, both on an absolute and a relative basis,” says Daniel Och, chairman and chief executive officer of Och-Ziff. “We surpassed the high-water marks on our assets under management, with our Oz Master Fund having one of its best years ever and our Asia Master Fund achieving record performance. We maintained a disciplined focus on our long-standing investment and risk management processes which, when combined with the flexibility of our multi-strategy approach and the stability of our model, was central to the strength of our returns last year. We believe these attributes, which have continued to serve us well in 2010, position us to generate strong performance for our fund investors over the long term.”
