Monday, 22 September 2014
Last updated 5 hours ago
Dec 7 2011 | 1:54am ET
Och-Ziff Capital Management founder Daniel Och thinks he may have sold his firm too short in a share offering last month.
The publicly-listed New York-based hedge fund, which manages about $28.9 billion, sold nearly $250 million worth of shares to help pay down its debt. The firm sold the 33.3 million shares, representing about 27% of its total shares outstanding, at a 19% discount to its share price the day before the announcement, and shares have surged 11% since the offering.
All of that has Och thinking the firm may have undersold itself.
"Do we think that we may have sold stock at a price in hindsight will look like it's very cheap?" Och said yesterday at a Goldman Sachs conference. "We do. We made a decision to go ahead at a price level which we definitely felt was extremely attractive and some felt too cheap a level to be selling stock."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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