Och-Ziff Whistles Past Supbrime Mess

Discussion in 'Wall St. News' started by ASusilovic, Aug 15, 2007.

  1. Source :


    Last week was a brutal one for hedge funds. The rapid deterioration in the United States mortgage markets has created strange market conditions, to say the least, which have tripped up many a carefully calibrated computer-trading strategy. Just ask the folks at Goldman Sachs, where one multibillion-dollar quantitative fund lost more than 30 percent last week.

    But Och-Ziff Capital Management, led by Goldman Sachs alumnus Daniel Och, seems to be weathering the storm.

    At least, that is the indication from the latest amendment to the prospectus for Och-Ziff’s $2 billion initial public offering.

    Och-Ziff on Tuesday updated the paperwork for its proposed I.P.O., which would be the first from an American, pure-play hedge-fund firm. The latest prospectus still did not include some of the juiciest details, such as Och-Ziff’s proposed share price or how much Mr. Och earned last year.

    At least one GOLD-MANN guy escaping bloodbath...:D