2007-08-14 22:55:25
Och-Ziff Capital Management Group Moves Closer to Going Public
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Och-Ziff moved closer to becoming a publicly traded company on Tuesday, as they filed an Amendment to their S-1. Och-Ziff is a notable company to keep an eye on, as they will be a publicly traded hedge fund. If they aren't the first publicly traded hedge fund, then they are at least one of the first.
Potential investors who may have thought that Och-Ziff would be delaying their IPO due to market conditions might be proven wrong, as Och-Ziff on Tuesday said these recent market conditions have not "materials impacted our funds performances." The question isn't really how worthy Och-Ziff is of an IPO right now; it is if investors currently have the appetite for such an IPO, considering the current state of the stock market.
Och-Ziff currently has about $29.1 billion dollars under management, cobbled together from a total pool of about 700 fund investors. The company was founded in 1994 by Daniel Och, along with the Ziffs, after Daniel Och had spent 11 years at Goldman Sachs. On December 31, 2002, the firm had $5.8 billion dollars under management, representing a 43% compound annual growth rate from then until now.
The firm's principal fund, the OZ Master Fund, has had a 17% annual growth rate since its inception. This is net of all fees and expenses.
Filed under: General Market News
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