Posted this over in the HF forum too but thought you bankers might have some strong opinions:
Would you still take a job at Och-Ziff or has it been blackballed from the list of top hedge funds?
They were facing large redemptions and stock was getting pummeled, but there was some good news yesterday: WSJ Article (paywall)
So do you all think it's on the upswing and would take a job there or has the brand been ruined and knocked down a few pegs as a result?
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In my eyes their "crown jewel" is the distressed group. Not sure how the turmoil has affected that team
Och-Ziff Slashes Management Fees (Originally Posted: 08/24/2016)
What are your thoughts on firms recent decisions to lower management fees due to week performance? Och-Ziff, Third Point, and Aurelius to name a few...
Och-Ziff is to head off outflows from larger plans and as a result of the pending federal case
Heads of those funds have already made more money than they'd ever need - what's a fee cut?
The decision seems in line with Loeb's assertion that we're entering a wash-out period for funds.
I used to work for a direct competitor of Och Ziff, focused on event-driven investing, and from what I've been told there has been a huge push across the event driven space for fee reductions from clients given the poor performance of the strategy. This is especially true in merger arb focused funds where merger spreads are super tight and it's tough to make money in the deals with jucier spreads.
While the guys at the top have already made the big bucks and will be okay, many of these funds can't afford to pay out big variable comp without the lucrative fees coming in. On top of that, given the operating leverage of the business, once AUM falls you really start to feel the pinch. A lot of funds are cutting fees to protect AUM but in doing so the fee income falls and a lot of employees will be left unhappy come bonus time. At the place I worked at, a lot of people have started to leave due to unhappiness over pay and performance.
Och-Ziff Real Estate Platform (Originally Posted: 12/30/2017)
Hi guys, would anyone be able to shed any light on the culture/strategy/reputation of Och-Ziff's real estate group? Have an informational interview with someone pretty high up there coming up and was hoping to glean some info that couldn't be found on their website or the news. Most of the info I found through search was on their equities/credit business. Any help would be greatly appreciated!
Hey Sidney J. Weinberg, sorry about the delay, but are any of these useful:
If we're lucky, the following users may have something to say: @three.commas" reeceminor JS0815
Hope that helps.
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