Reuters- Och-Ziff Capital Management Group LLC, a multi-strategy investment fund with about $26.8 billion under management, filed for an initial public offering on Monday, making it the latest alternative investment firm to seek a public listing.
New York-based Och-Ziff said it would offer up to $2 billion worth of Class A shares on the New York Stock Exchange, representing limited liability company interests, under the symbol OZM (NYSE:OZM – news).
Och-Ziff was founded in 1994 by former Goldman Sachs trader Daniel Och and the billionaire Ziff publishing family. It is well regarded in the secretive, $1.5 trillion hedge fund world, particularly for its acumen in distressed debt and restructuring strategies.
Och-Ziff also has major operations in merger arbitrage, convertible arbitrage, private equity and real estate.
The offering comes amid a spate of IPOs and planned offerings by investment firms, including Blackstone Group (NYSE:BX – FIG – news), GLG Partners and Third Point LLC.
