Saturday, 28 March 2015
Last updated 12 hours ago
Jan 21 2008 | 8:52am ET
A company owned by the emir of Dubai has acquired more than half of the publicly-traded shares of New York-based hedge fund Och-Ziff Capital Management.
Dubai Holding said Friday that it has bought 51.4% of the class A shares of Och-Ziff, which held an initial public offering on the New York Stock Exchange in November.
Class A shares represent only about 10% of the hedge fund group; the remaining 90% is in class B shares allotted to current executives, including founder Daniel Och, a Goldman Sachs veteran.
Dubai Holding said in a Securities and Exchange Commission filing that it bought more than 38 million shares—worth almost $900 million—pursuant to an Oct. 29 purchase agreement. The firm indicated it bought the stake for investment purposes and does not intend to seek major changes at Och-Ziff.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…