DealBook – Och-Ziff Capital Management, the hedge fund firm run by Daniel S. Och, reported on Wednesday that profit fell 4 percent in the third quarter as a result of market turbulence and higher expenses.
Profit dropped to $49.9 million, or 12 cents a share, from $52.1 million, or 13 cents a share, in the period a year earlier. The results failed to meet analysts’ forecasts of nearly 16 cents a share, according to Bloomberg data. The firm reports profit as distributable earnings, which excludes the charges related to its initial public offering.
