Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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