Och-Ziff proposes opaque public offering

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Och-Ziff Capital Management Group said that founder Dan Och would retain control over any matters that would require shareholder approval following its planned $2 billion public offering.

Och also will retain the power to pick five of the seven nominees who will stand for election to the company’s board of directors.

The firm made this clear on Wednesday in an amended filing to the Securities and Exchange Commission. Och-Ziff, which manages more than $29 billion in hedge fund assets, filed in July to offer $2 billion in Class A shares to the public on the New York Stock