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

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.