Och-Ziff IPO Terms & Dubai Investment (OZM)

Och-Ziff is one step closer to coming public, and this is set to trade under the ticker "OZM" on the New York Stock Exchange.  The hedge fund family is indicated to sell 36 million class A shares priced in a range of $30 to $33 per share.  The company has also agreed to sell a stake to Dubai International Capital LLC, pursuant to which it will sell 38,138,571 Class A shares so it will beneficially own 9.9% of the outstanding Class A shares on the closing date of this offering.

Interestingly enough, Och-Ziff’s underwriting group is massive.  Goldman Sachs and Lehman Bros. are tagged as the lead underwriters, and other key underwriters are Merrill Lynch, Morgan Stanley, Citigroup, Deutsche Bank, and J.P.Morgan.  Co-managers with smaller allocations are listed as Credit Suisse, Keefe Bruyette & Woods, Bear Stearns, Macquarie, Nomura, BOC International, Ramirez & co., and Utendahl Capital Partners.  While some of the key European investment banks are not listed in here, it looks like the hedge fund operator is giving an allocation to every investment banker in its rolodex.

As of September 30, 2007, Och-Ziff managed approximately $30.1 Billion in assets from over 700 fund investors.  More detailed information on this and other IPO’s and spin-offs goes out to our public distribution list several times per week.

Jon C. Ogg
November 12, 2007