Och-Ziff Second-Quarter Profit Increases 17% on Management Fees

Och-Ziff Capital Management Group LLC, the hedge-fund firm run by Daniel Och, said second-quarter profit rose 17 percent on higher management fees.

Distributable profit, a measure excluding costs related to Och-Ziff’s 2007 initial public offering, increased to $90.4 million, or 18 cents a share, from $77.5 million, or 16 cents, a year earlier, the New York-based company said today in a statement. Earnings per share matched the average estimate of eight analysts surveyed by Bloomberg.