Och-Ziff to get Middle East strategic partner

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Och-Ziff Capital Management, the $30.1 billion hedge fund firm, is set to sell a 9.9% stake to Dubai International Capital, an investment firm backed by the emirate’s ruling family. The strategic investor will pay less than $33 a share, which is the top end of the planned price range for Och-Ziff’s upcoming initial public offering.

Och-Ziff’s move to sell a chunk to a strategic investor from a non-Western country follows in the footsteps of Fortress Investment Group, which sold a 15% stake to Nomura Investment Managers U.S.A. in December at a 20% discount to the price investors paid when