Och-Ziff Capital Management Group LLC fell the most in three weeks after the Wall Street Journal reported that the hedge-fund firm run by Daniel Och helped finance controversial oil and mining deals in Africa.
Ken Xu, a former managing director at SAC Capital Advisors and Och-Ziff Capital Management Group LLC, is considering setting up his own hedge fund in Hong Kong, said a person with knowledge of the matter.
Och-Ziff Capital Management Group LLC, the hedge-fund firm run by Daniel Och, fell after saying U.S. regulators are investigating whether it broke bribery laws in accepting an investment from a sovereign wealth fund.
Hong Kong Jockey Club began making direct allocations to hedge funds, said Jacob Tsang, director of group treasury at the city’s only horse-racing operator, which has invested more than $1 billion in alternative assets.
A new rule forcing banks to sell a type of complex debt security created before the financial crisis is having a surprising effect: luring buyers to the market and driving up the prices of those bonds.