Sunday, 14 September 2014
Last updated 2 days ago
Oct 30 2007 | 7:37am ET
Foreigners simply can’t get enough of U.S. alternative investments managers. New York hedge fund Och-Ziff Capital Management has agreed to sell a 9.9% stake to a Dubai-based firm, while private equity giant The Carlyle Group is reportedly in talks to sell an identical slice to China’s social security system.
Dubai International Capital will pay roughly $12.5 billion for its stake in Och-Ziff, which manages more than $30 billion. The firm, controlled by Sheikh Mohammed bin Rashid al-Maktoum, will buy 38.1 million shares at the Och-Ziff’s initial public offering price. The firm is set to sell 36 million shares on the New York Stock Exchange next month.
Och-Ziff, in a Securities and Exchange Commission filing, said the proceeds from the Dubai sale would be used to buy shares from the current ownership group, who will invest that money in the firm’s funds.
Meanwhile, Washington, D.C.-based Carlyle has been discussing the sale of a 9.9% stake to China’s US$62 billion Social Security Fund. Carlyle has already sold stakes to the California Public Employees’ Retirement System and Abu Dhabi’s Mubadala Development Co.
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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