History
The firm was founded in 1994 by Daniel Och with financial support from the Ziff family, founders of Ziff Davis Media. William Ziff's sons Dirk, Robert, and Daniel manage the family's investments through Ziff Brothers Investments. Prior to founding the firm, Och was Head of Proprietary Trading in the Equities division at Goldman Sachs.
The company completed an initial public offering in 2007, listing its shares on the New York Stock Exchange at $32. The firm was one of the few hedge funds and private equity companies that completed IPOs before the market downturn of 2007. The company's stock has declined significantly since the IPO, reaching a 2008 year-to-date low of $4.02. On September 30, 2010, the stock was trading at $14.90.
The firm is reported to have avoided large losses during the financial crisis of 2008 and institutional capital continued to allocate funds to the company through 2010.
Read more about this topic: Och-Ziff Capital Management
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