Och-Ziff Earnings Beat Estimates; Shares Surge

Daily News; White Plains › November 05, 2008

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Summary

BOSTON (Reuters) - Hedge fund company Och-Ziff Capital Management Group LLC reported stronger-than-expected distributable earnings on Tuesday [Nov. 4], sending its battered shares up as much as 25%.

Chairman and Chief Executive Daniel Och said he expects lower redemptions than at other funds, and bigger inflows from institutional investors once markets stabilize.

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Och-Ziff Earnings Beat Estimates; Shares Surge

Distributable earnings, which consist of the Och-Ziff Funds segment's income minus adjustable income taxes, totaled 1...

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