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The stock that will be sold will be Class-A shares, which will have limited say in the Och-Ziff's operations as compared with the Class-B shares, which will be held by existing owners and executives. For the first quarter ended March 31, Och-Ziff reported net income of $85.2 million, up from $45.9 million in the 2006 comparable period. Revenue jumped to $284.4 million from $198.8 million.
The New York-based firm, which made $85 million on revenue of $284 million during the first quarter, plans to list on the New York Stock Exchange under the ticker symbol "OZM."
With about $26.8 billion in assets, Och-Ziff is one of the world's biggest hedge-fund businesses...
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