Wednesday, 1 October 2014
Last updated 13 hours ago
Apr 30 2012 | 1:54pm ET
Och-Ziff Capital Management is not closing or cutting back on its Indian activities, denying a report to that effect in the country's Economic Times.
The newspaper said today that the US$30 billion hedge fund has "nearly shut its India desk." According to the Economic Times, which cited four people "familiar with the development," that move led to the departure of Sumit Choudhary, the Och-Ziff managing director who oversaw the firm's Indian activities.
But New York-based Och-Ziff said today that the Economic Times report is "factually inaccurate" and that the hedge fund is not reducing its Indian investments or operations, which include offices in Mumbai and Bangalore. The Times did say that Och-Ziff still has investments in India and staff in both offices.
Och-Ziff did acknowledge that Choudhary, who was based in Hong Kong, had left the firm, but would not say why.
The Economic Times wrote that Och-Ziff was shying away from India due to increased compliance costs and uncertain tax policies in the country. The latter was a reason cited by Macquarie last week when it decided to close its short positions in India.
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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