NEW YORK, Nov. 13 /CNW/ -- Och-Ziff Capital Management Group LLC
("Och-Ziff") announced today that its initial public offering of 36,000,000
Class A shares representing Class A limited liability company interests priced
at $32.00 per share. The shares are expected to begin trading tomorrow,
November 14, 2007, on the New York Stock Exchange under the symbol "OZM."
Och-Ziff has granted the underwriters the option to purchase up to an
additional 5,400,000 Class A shares from Och-Ziff at the initial public
offering price less the underwriting discount.
Och-Ziff intends to use the proceeds from the initial public offering and
the concurrent sale of $1.15 billion of Class A shares to Dubai International
Capital LLC to acquire interests in its business from its existing owners,
including members of Och-Ziff's senior management. All of Och-Ziff's current
partners will then invest 100% of their after-tax proceeds into certain funds
managed by Och-Ziff.
Goldman, Sachs & Co. and Lehman Brothers served as global coordinators
for the offering. Merrill Lynch & Co., Morgan Stanley, Citi, Deutsche Bank
Securities and JPMorgan served as bookrunners.
The initial public offering is being made solely by means of a prospectus
which may be obtained from the Prospectus Department of Goldman, Sachs & Co.,
85 Broad Street, New York, New York 10004, fax number (212) 902-9316 or email
firstname.lastname@example.org; or from Lehman Brothers Inc., c/o Broadridge,
1155 Long Island Avenue, Edgewood, New York 11717, fax number (631) 254-7140
or email email@example.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Och-Ziff Capital Management Group LLC
Och-Ziff, founded by Daniel Och in 1994, is a leading institutional
alternative asset management firm and one of the largest alternative asset
managers in the world, with approximately $30.1 billion of assets under
management for over 700 fund investors as of September 30, 2007.
For further information:
For further information: Steve Bruce or Chuck Dohrenwend, both of The
Abernathy MacGregor Group, for Och-Ziff Capital Management Group,