Fitch Places Och-Ziff (OZM) on Watch for Downgrade

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Go back to Fitch Places Och-Ziff (OZM) on Watch for Downgrade

Och-Ziff Reaches Settlements with U.S. Department of Justice and U.S. Securities and Exchange Commission to Resolve FCPA Investigation

September 29, 2016 4:53 PM EDT

NEW YORK, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Och-Ziff Capital Management Group LLC (NYSE: OZM) today announced that it has reached settlements with the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), resolving their investigations into the Firms former private investment business in Africa and a 2007 investment by the Libyan Investment Authority in certain of the Firms funds.

As part of the settlements, the Firms parent company, Och-Ziff Capital Management Group LLC, has entered into a Deferred Prosecution Agreement with the DOJ. A subsidiary, OZ Africa Management GP,... More