Och-Ziff Founder Makes $440M From IPO

Apr 30 2008 | 7:05am ET

Och-Ziff Capital Management shares have lost more than one-third of their value since the New York hedge fund giant’s November initial public offering. But firm founder Daniel Och is faring rather well.

According to regulatory filings, Och made $484.8 million last year, all but $30 million of it tied to his firm’s floatation. Och, who holds a $1 billion stake in Och-Ziff, enjoyed a $349.7 million payout from a $750 million loan the firm took to distribute to directors, as well as a second payment of $104.4 million tied to his stake. By contrast, he earned just $30.6 million in management fees.

Och-Ziff directors had agreed to keep the proceeds from the IPO in the firm’s funds for five years, but this does not apply to money paid out from the loan.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...