MarketWatch – Och-Ziff Capital Management Group, one of the world’s largest hedge-fund firms, reported a narrower quarterly net loss Thursday as lucrative incentive fees kicked in after a period of strong performance.
The results exceeded analyst expectations, pushing Och-Ziff shares up 2.5% to $13.65 in midday trading.
Och-Ziff reported a fourth-quarter net loss of $47.2 million, or 58 cents per adjusted class A share, versus a net loss of $112.2 million, or $1.49 per adjusted class A share, in the fourth quarter of 2008.
