Sunday, 28 December 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."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.