Thursday, 2 April 2015
Last updated 9 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…