Och-Ziff Capital Management Group LLC
Och-Ziff Closes First European CLO Totaling €413 million
NEW YORK, 2016-12-15 13:42 CET (GLOBE NEWSWIRE) --
Och-Ziff Capital Management Group LLC (NYSE:OZM) today announced the closing of its first European collateralized loan obligation (CLO) transaction, OZLME B.V., totaling approximately €413 million. The CLO, arranged by Bank of America Merrill Lynch, will be managed through Och-Ziff's affiliate, Och-Ziff Europe Loan Management Limited, and will invest predominantly in broadly syndicated senior secured loans.
“We are very pleased to announce the closing of our first European CLO,” said Adeel Shafiqullah, Managing Director and Senior Portfolio Manager of Institutional Credit Strategies in Europe. He added, “We have a deep, experienced team of credit investment professionals in Europe with significant and broad expertise investing and managing CLO portfolios. This closing is an important milestone in the development of our Institutional Credit Strategies platform in the region.”
Institutional Credit Strategies (ICS) is Och-Ziff’s asset management platform that invests in performing credits, including leveraged loans, high-yield bonds, private credit/bespoke financing and investment grade credit via CLOs and other customized solutions for clients. Since the inception of the platform in May 2012, ICS has issued 14 CLOs totaling approximately $7.6 billion.
Och-Ziff is one of the largest institutional alternative asset managers in the world, with offices in New York, London, Hong Kong, Mumbai, Beijing, Dubai, Shanghai and Houston. Och-Ziff provides asset management services to investors globally through its multi-strategy funds, dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds and other alternative investment vehicles. Och-Ziff seeks to generate consistent, positive, absolute returns across market cycles, with low volatility compared to the broader markets, and with an emphasis on preservation of capital. Och-Ziff’s funds invest across multiple strategies and geographies, consistent with the investment objectives of each fund. The global investment strategies Och-Ziff employs include convertible and derivative arbitrage, corporate credit, long/short equity special situations, merger arbitrage, private investments, real estate and structured credit. As of December 1, 2016, Och-Ziff had approximately $37.1 billion in assets under management. For more information, please visit Och-Ziff’s website (www.ozcap.com).
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