Monday, 2 March 2015
Last updated 1 hour 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…