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Investors Continue to Flee Och-Ziff
They say, 'Reputation is Everything.'
That may explain what's happening to Och-Ziff Capital Management. After paying $413 million to settle U.S. criminal and civil bribery charges late last year, investors pulled $3.6 billion from the fund manager in December. That brings full-year redemptions to an estimated $9.4 billion - just short of the $9.9 billion investors pulled from Och-Ziff in 2009, following the financial crisis.
September 2016 Bribery Settlement. In September, the now-$33.5 billion hedge fund agreed to pay $200 million to the SEC and $213 million to the Justice Department to settle charges that it paid bribes to African officials - including the son of deceased Libyan dictator Moammar Gadhafi - to win business in the region.
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