Wednesday, 20 August 2014
Last updated 6 hours ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note