Och-Ziff Capital Management Group (OZ Management) is an American hedge fund manager and global alternative asset management company. The company operates several investment strategies, including multi-strategy, credit, real estate, and energy. It has nearly 500 employees worldwide including offices in New York City, London, established in 1998, Hong Kong, founded in 2001, Mumbai, established in 2005, Beijing, was established in 2007 and Houston was founded in 2015.
On July 1, 2017, the company had $ 31.8 billion in managed assets.
Video Och-Ziff Capital Management
Structure
According to the company's website, Daniel Och is Chairman of the Board, and former Chief Executive Officer. On 5 February 2018, Robert Shafir replaced Och as Chief Executive Officer.
The company is managed by the Partner Management Committee, which consists of nine executives, including Och, Shafir, Jimmy Levin, Co-CIO and Head of Global Credit, David Windreich, Co-CIO, and Wayne Cohen, President and Chief Operating Officer.
Jimmy Levin is a former water ski instructor of Dan Och's son.
The Company currently manages multi-strategy funds, special credit funds, including opportunistic credit funds and Institutional Credit Strategy products, real estate funds and other alternative investment vehicles. Through the Institutional Credit Strategy, the Company's asset management platform that invests in performance credits, the Company manages guaranteed loan obligations ("CLO") and other customized solutions for its clients.
Maps Och-Ziff Capital Management
History
The company was founded in 1994 by Daniel Och with financial support from the Ziff family, founder of Ziff Davis Media. Children William Ziff, Dirk, Robert, and Daniel manage family investments through Ziff Brothers Investments. Before setting up the company, Och was the Head of Proprietary Trading at Equity division at Goldman Sachs.
The Company completed its initial public offering in 2007, listing its shares on the New York Stock Exchange for $ 32. The company is one of several hedge funds and private equity firms that completed the IPO before the 2007 market decline. Also in 2007 became a founding member of the Board The Hedge Fund standard that establishes the best-practice standard voluntary codes supported by members. The company's shares have declined significantly since the IPO, reaching its 2008 lows to $ 4.02. On April 20, 2018, shares traded at $ 2.33.
The company reportedly avoided huge losses during the 2008 financial crisis and institutional capital continued to allocate funds to the company by 2010. In January 2018, share prices were less than 10% of the initial public offering price in 2007.
Criticism
In September 2016, the company entered into a settlement agreement with the US Securities and Exchange Commission and the Department of Justice, ending a five-year investigation into violation of the Federal Corrupt Practices Act. As part of a deferred prosecution agreement that solves civil and criminal litigation, the company agreed to pay a $ 413 million fine. The African subsidiary of the company also pleaded guilty to one conspiracy allegation.
In January 2018, Michael Cohen, former European operations chief Och Ziff was accused of fraud related to corporate activity in Africa. He was charged with ten counts of fraud including fraud investment advisers and conspiracy to commit wire fraud when employed by Och Ziff. The Securities and Exchange Commission (SEC) sued Michael Cohen as part of their investigation into Och Ziff, particularly with regard to Och Ziff's bribery scheme in the Democratic Republic of Congo, Chad and Libya, to win business for the company.
See also
- Daniel Och
- List of hedge funds
References
External links
- Och-Ziff Capital Management (corporate website)
Source of the article : Wikipedia
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