Och Ziff In Massive Ipo Plans
In one of the largest financial exercise of its kind, Och-Ziff Capital Management Group at last revealed their plans for an IPO
Och-Ziff Capital Management Group LLC on Monday filed an initial public offering with the Securities and Exchange Commission to sell up to $2 billion in Class A shares.
Och-Ziff, of New York, is an institutional alternative asset-management firm and one of the largest of its kind with approximately $26.8 billion of assets under management for over 700 fund investors as of April 30. Details about the number of shares offered and estimated price range for the IPO weren’t disclosed in the filing.
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Och-Ziff was listed as the seventh-largest U.S. hedge fund management firm, according to trade publication Absolute Return.
Och-Ziff said it plans to use net proceeds from the IPO to acquire interests in its business from its existing owners, including members of senior management. Its existing partners will reinvest all of their after-tax proceeds in the company’s funds, the filing said.
Goldman, Sachs