Och-Ziff Profit Drops Amid Lower Incentive Income

Och-Ziff Capital Management Group LLC (NYSE:OZM) unveiled its third-quarter results today with profit falling 10% on the back of lower performance fees and higher compensation and taxes. The New York-based hedge fund’s assets under management were $46.8 billion as of Sept. 30, as compared with $40.2 billion a year earlier.

Growth in management-fee revenue

Och-Ziff Capital Management Group LLC (NYSE:OZM) reported a profit of $23.2 million, or 9 cents a Class A a share, down from $28.9 million, or 15 cents a share, a year earlier. The hedge fund’s total revenue grew 9.3% to $306.7 million.

The institutional alternative asset manager’s revenue from management...