Tuesday, 21 October 2014
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
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 ...