Filed under: Private equity, Housing
For hedge funder operator Och-Ziff (NYSE: OZM), it’s been a wild ride since its IPO in November, mostly downhill. The company’s stock price has gone from $32.80 to $20.02.
But this week things have been improving. Och-Ziff announced a fairly good earnings report. For example, the firm posted distributable earnings of $505.5 million, or $1.27 per share. What’s more, assets under management spiked 48% to $33.4 billion.
Yes, with such amounts, it doesn’t take too much work to generate juicy fee income. And Och-Ziff has produced consistent returns. Keep in mind that the firm has an opportunistic approach to investing, which includes exotic strategies and broad global reach.
And yes, the firm thinks that the current market turbulence is presenting some good investment options. Och-Ziff stated it plans to devote 10% of its $20 billion OZ Master Fund to the beaten-down credit market — including even residential mortgages.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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