Och-Ziff, Carlyle Feed Asian Hunger For Stakes

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.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note