Och-Ziff Capital Management Group made a GAAP net loss of USD88.6m, or USD1.07 per basic and diluted class A share, for the first quarter ended 31 March 2010.
The company also declared a USD0.09 per share 2010 first quarter cash dividend on its class A shares.
Och-Ziff had distributable earnings of USD49.2m, or USD0.12 per adjusted class A share, for the 2010 first quarter compared to USD27.2m, or USD0.07 per adjusted class A share, for the 2009 first quarter.
Assets under management were USD25.3bn as of 1 April 2010, compared to USD23.5bn as of 1 January 2010 and USD20.3bn as of 1 April 2009.
Year-to-date estimated net returns through 30 April 2010 of the OZ Master Fund are 3.6 per cent, the OZ Europe Master Fund 5.1 per cent, the OZ Asia Master Fund 6.3 per cent and the OZ Global Special Investments Master Fund 5.0 per cent.
"We continued to generate consistent, strong risk-adjusted returns during the first quarter and in April," says Daniel Och, chairman and chief executive officer of Och-Ziff. "The investment environment today is characterized by a diversified set of opportunities globally that plays to the strengths of our investment process and international capabilities. Our year-to-date results were driven by our multi-strategy, multi-geographic approach, and by opportunities in structured credit, distressed credit and equity restructuring in the US and Europe and convertible arbitrage in Asia. This has allowed us to extend our track record of generating strong investment performance, and to grow assets under management.
"We are now seeing that the capital inflow cycle for the hedge fund industry is underway and that we have been a leading beneficiary of these inflows. 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. Fund investors continue to indicate strong interest in Och-Ziff, and we remain confident that they view us as a manager of choice."
