(Bloomberg) Och-Ziff Capital Management Group LLC, the hedge fund firm run by Daniel Och, reported an unexpected first-quarter loss as it set aside $200 million for a legal settlement that it’s now discussing with U.S. authorities.
The firm had a loss of $142.5 million, or 27 cents a share, compared with a distributable profit of $126.7 million, or 25 cents, a year earlier, the company said Tuesday in a statement. Excluding the charge, earnings of 11 cents a share missed the 13 cent average estimate of eight analysts in a Bloomberg survey.
