Off-Ziff Hedge Fund Files To List Class A Shares On NY Stock Exchange

West Palm Beach (HedgeCo.Net)- Hedge fund Och-Ziff Capital Management Group announced that it has filed a registration statement with the SEC for a proposed initial public offering of its Class A shares, representing Class A limited liability company interests. The firm intends to apply to list its Class A shares on the New York Stock Exchange under the symbol OZM.

According to the registration statement which has been filed with the SEC but has not yet become effective, as of April 30, 2007,  Och-Ziff had $26.8 billion in assets under management with 700 investors. They have 300 employees of which 125 are investment professionals including 18 partners located in the New York headquarters and offices in London, Hong Kong, Tokyo and Bangalore. They expect to open an office in Beijing later this year.

Goldman, Sachs & Co and Lehman Brothers are serving as co-lead managers for the proposed offering. The offering will be made by prospectus.

The reasons for going public, according to the registration statement, are to enable them to implement their growth strategy and continue to attract and retain the finest investment talent. The development of new investment strategies as they identify strategic opportunities worldwide will offer existing and prospective employees direct participation in their success.

Each of the existing partners will invest 100% of the after-tax proceeds received by them in connection with this offering in the investment funds they manage.

The firm, which was founded in 1994 by Daniel Och along with the Ziffs, takes a multi-strategy approach combining global investment strategies including merger arbitrage, convertible arbitrage, equity restructuring, credit and distressed credit investments, private equity and real estate.  

Alex Akesson

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HedgeCo.Net
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