Och-Ziff Capital files for an IPO

Hedge-fund operator Och-Ziff Capital Management Group on Monday became the latest alternative-investment firm to seek a public listing, filing to offer as much as $2 billion of its stock.

Och-Ziff, founded in 1994 by former Goldman Sachs trader Daniel Och and the billionaire Ziff publishing family, has $26.8 billion under management. It is known for its acumen in investing in distressed debt and in companies being restructured. The firm also has major operations in merger arbitrage, convertible arbitrage, private equity and real estate.

The filing follows initial public offerings by Blackstone Group and Fortress Investment Group.

Och-Ziff said it was going public to attract and retain investment talent, develop new strategies and allow senior management to sell stakes in the firm. It said those managers would place all of their after-tax proceeds into Och-Ziff funds.