Sunday, 21 December 2014
Last updated 13 hours ago
Oct 18 2012 | 8:43am ET
Och-Ziff Capital Management has apparently decided that being a landlord is not all it's cracked up to be.
The $31 billion New York-based hedge fund has told its investment partner, 643 Capital Management, that it wants out of the foreclosed home space, reports Reuters, citing people familiar with the matter.
Och-Ziff has a portfolio of about 300 foreclosed homes in northern California which it purchased, renovated and turned into rental properties, said the sources. Returns have not been as good as projected, and the company hopes now to cash in on a recent rebound in northern California housing prices.
The median price for a new or resale house in the San Francisco Bay Area in August was up 10.8% year on year at $410,000 according to DataQuick.
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.