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NEW YORK, Dec. 20, 2016 -- Och-Ziff Capital Management Group LLC (NYSE:OZM) today announced that its affiliate, Och-Ziff Loan Management LP (“OZLM”), has closed on a $409 million collateralized loan obligation (“CLO”) transaction, OZLM XV, Ltd. The CLO, arranged by Bank of America Merrill Lynch, will be managed through OZLM and will invest in senior secured bank loans.
Och-Ziff also announced that OZLM had closed the refinancing of OZLM Funding III, Ltd. on December 15, 2016. The transaction was placed by Citi and refinances approximately $583 million of the debt tranches in the capital structure.
“We are focused on generating strong performance in our CLOs and look forward to continuing to perform for our investors both in terms of overall portfolio credit quality and distributions to subordinated note holders,” said Brett Klein, Executive Managing Director and Head of U.S. Corporate Credit for Och-Ziff.
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 15 CLOs totaling approximately $8.0 billion.
About Och-Ziff
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).
Investor Relations Contact Tina Madon +1-212-719-7381 [email protected] Media Relations Contact Joe Snodgrass +1-212-887-4821 [email protected]
