Hedge Fund Och-Ziff Said to Lose Four London-Based EmployeesRuth David and Lindsay Fortado
Four employees of Daniel Och’s Och-Ziff Capital Management Group have left the hedge fund’s London office over the past week, two people with knowledge of the matter said.
Antonio Batista, Jason Marino, Marco Minoli and Filipe Bergana have departed the firm, one person said, asking not to be named as the details aren’t public. Batista was a managing director, while the other three were analysts, one person said.
Och-Ziff, which is known for its multistrategy hedge funds that speculate on everything from rising and falling stock prices to mergers and bankruptcies, has been hurt by lower performance fees and rising compensation and taxes. The fund, which has operations in the U.S., Europe and Asia, had estimated unaudited assets under management of about $46 billion on Jan. 1, down $1.1 billion over the past month.
Och-Ziff’s Europe Master Fund had the weakest performance among the New-York based firm’s most significant funds in 2014, rising 1.8 percent, according to disclosures this month. By comparison, the Asia Master Fund gained 4.1 percent, while the Master Fund was up 5.5 percent in that period.
Minoli and Batista didn’t immediately reply to calls to their office numbers and mobile phones seeking comment. Bergana and Marino declined to comment when contacted by Bloomberg.
Shares of Och-Ziff, one of the few publicly traded hedge funds globally, were up 0.4 percent at $11.02 at 9:54 a.m. in New York. They declined 21 percent last year.