Bringing you live news and features since 2006 

Comment: Och-Ziff makes hay as prop desks lick their wounds

RELATED TOPICS​

Hedge funds are seeing less activity from the competing proprietary trading desks of investment banks, making it easier for them to capitalise on i

Hedge funds are seeing less activity from the competing proprietary trading desks of investment banks, making it easier for them to capitalise on investment opportunities, according to Daniel Och, founder of Och-Ziff Capital Management. “The proprietary trading desks at banks are substantially less active,” he told the Financial Times.

And as if on cue, the New York-based hedge fund manager has increased its stake in Australian Stock Exchange-listed private equity fund Babcock & Brown Capital from 4.76 per cent to just over 12 per cent, becoming its largest shareholder.

The move comes just after Babcock & Brown Capital received an unsolicited EUR95m bid from a consortium including Rob Topfer, a former executive of the fund’s bankrupt sponsor, Babcock & Brown, who helped orchestrate the purchase of Irish telecoms provider Eircom in 2006. The company is also reported to have received a EUR100m approach from Singapore Technologies Telemedia.

Babcock & Brown Capital has rejected the offer from Topfer’s TaemasBridge consortium, but Och-Ziff apparently believes that the Australian company, which also owns Israeli Golden Pages, is set to be the target of a bidding war. The fund has seen its value fall by 55 per cent over the past year, but Och-Ziff’s newly-acquired shares are already reported to be in the money.

Latest News

BlackRock’s global ETP flows report for June finds a steady rise with USD128.1 billion added to global ETPs in June,..
Morningstar’s global ETF flows report for the first half of 2024 shows that actively managed ETFs have captured 25 per..
The surge in bitcoin ETF launches and funds flowing into the sector is transforming institutional investment in digital assets but..
LSEG Lipper’s latest research finds that the majority of actively managed funds and ETFs globally were not able to beat..

Related Articles

Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Andrea Busi, Directa SIM
Romain Thomas talks to Andrea Busi (pictured), CEO of Directa SIM, who explains why the online trading platform has just...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by