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The proceeds from the IPO will be used by Och-Ziff to buy ownership interests in the firm held by various parties, including 18 partners
The partners have pledged to pay taxes on the funds, and then put the money they receive back into Och-Ziff's hedge funds for at least five years. But Och-Ziff is going to borrow $750 million before the offering and distribute that money to its investors, likely leading to a windfall for top executives...
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The proceeds from the IPO will be used by Och-Ziff to buy ownership interests in the firm held by various parties, including 18 partners
The partners have pledged to pay taxes on the funds, and then put the money they receive back into Och-Ziff's hedge funds for at least five years. But Och-Ziff is going to borrow $750 million before the offering and distribute that money to its investors, likely leading to a windfall for top executives...
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