Och-Ziff Capital Management Group LLC is seeking to raise its largest real estate fund ever after a period of change for the firm, including new leadership. Billionaire Dan Och’s hedge fund firm is targeting $2 billion for its fourth fund focused on opportunistic property investments as soon as the end of the year, according to people familiar with the matter. New York-based Och-Ziff has also raised about $750 million for a real estate debt strategy and is gathering a $150 million affordable-housing investment pool, which would be exempt from taxes, said the people, who asked not to be identified because the information is private. An Och-Ziff representative declined to comment. The real estate group, under the leadership of Steve Orbuch, has been a relative bright spot for Och-Ziff, which has been trying to renew investor confidence two years after the firm settled a bribery probe with regulators. The firm’s two most recent real estate funds produced net internal rates of return of 23.5 percent and 21.8 percent, respectively, from inception through June 30, according to a regulatory filing. Robert Shafir, the former executive at Credit Suisse Group AG who succeeded Och as chief executive officer in February, is overseeing a… Read full this story
- Did Changing Sentiment Drive Artis Real Estate Investment Trust's (TSE:AX.UN) Share Price Down By 17%?
- Is Leasinvest Real Estate SCA's (EBR:LEAS) ROE Of 9.4% Impressive?
- Sunny Day Real Estate's drummer says their greatest album is "buried in Dave Grohl's sock drawer"
- De Blasio defends controversial $173M real estate deal with slumlords
- Central Park: The world's greatest real estate engine
- General Growth Properties, owner of South Street Seaport, files largest U.S. real estate bankruptcy
- Is now a good time to buy investment real estate?
- Real estate history made in Boston's Back Bay, masterminded by real estate guru Louise M. Sunshine
- Real estate's on a roll! Experts dish on why housing is a hot market again
- Is Forest Hills a smart buy for real estate investors?
Och-Ziff to seek $2 billion for its biggest real estate fund have 335 words, post on www.crainsnewyork.com at September 17, 2018. This is cached page on wBlogs. If you want remove this page, please contact us.