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​Och-Ziff sees FCPA impact on investor withdrawals, ability to raise new funds

( February 23, 2018, 21:56 GMT | Official Statement) -- MLex Summary: Och-Ziff, the New York hedge fund implicated in a bribery scheme in Africa, said its 2016 settlement of US Foreign Corrupt Practices Act charges could impact its ability to retain assets and to raise new funds. "Recently, our assets under management have declined and we believe this trend will likely continue to some extent for some period of time following the settlement of the FCPA investigation," Och-Ziff said. It added that, "During 2017, we experienced redemptions of approximately $10.5 billion from our funds." Och-Ziff said "The potential negative impact of the FCPA settlements on our ability to raise or retain capital for our funds could adversely affect our business, financial condition or results of operations." The company also warned that further regulation actions also could have a material adverse impact on its operations.Excerpt:...

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