Wednesday, 1 October 2014
Last updated 34 min ago
Nov 16 2011 | 11:21am ET
Och-Ziff Capital Management plans to raise as much as $287.5 million dollars in a share sell to pay down its debt.
The New York-based hedge fund said the $250 million offering—the underwriters have an option to sell another 15%—would fund the repurchase of outstanding debt of its OZ Management division. That unit yesterday struck a $391 million delayed-loan agreement.
No partners, employees or large shareholders will sell any of their shares in the $28.9 billion hedge fund in the offering, which will be co-managed by Bank of America, Goldman Sachs and Morgan Stanley.
The offering represents about 27% of Och-Ziff's current shares outstanding.
Och-Ziff said that any proceeds left over after the debt repurchases would be used for working capital and other general corporate purposes.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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