Och-Ziff Says No Reductions In India

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.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note