Wednesday, 22 October 2014
Last updated 11 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.
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…
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 ...