Bull Bear Report Feb 10 2011

Och-Ziff Swells Staff 7%, Pays Bigger Bonuses

By kyle stock

Och-Ziff Capital Management LLC, one of the world's largest hedge fund managers by assets managed, increased staff and paid bigger bonuses in 2010.

The New York-based firm grew headcount to 405 last year from 378 in 2009, a 7% increase. At the same time, it added $14 million, or 7%, to the compensation pool, growing it to $207 million.

Och-Ziff employees, on average, were compensated almost $512,100 for the year, roughly the same amount as in 2009.

In addition to hiring, the company said it paid more opulent bonuses in 2010, citing the success of its staff.

"Last year was a strong year for us, both in terms of our investment performance and the growth in our assets under management," chairman and CEO Daniel Och said in a statement.

Och-Ziff increased the critical distributable earnings, or capital the company could have paid to investors, result by 30% to $461.4 million, beating analyst expectations.

All told the company reported a $294.4 million loss in 2010, slightly less than the year-earlier result, primarily due to charges related to its 2007 public offering.

Write to Kyle Stock




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