Hedge fund Och-Ziff CEO expects fourth-quarter redemptions to be higher
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Hedge fund Och-Ziff Capital Management, which recently settled a bribery charge with the U.S. government, warned on Wednesday that investors are likely to keep pulling money out of the firm.
BOSTON Hedge fund Och-Ziff Capital Management, which recently settled a bribery charge with the U.S. government, warned on Wednesday that investors are likely to keep pulling money out of the firm.
“We expect fourth quarter redemptions to be somewhat elevated,” Daniel Och, the company’s chief executive officer said on a quarterly earnings call.
The company manages $37 billion in assets, down from $44.5 billion at the end of the third quarter 2015.
(Reporting by Svea Herbst-Bayliss)
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