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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of