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Dirk Edward Ziff was born in 1965, Robert D. Ziff in 1967, and Daniel M. Ziff in 1973. Their father was the Jewish American media magnate William Bernard Ziff Jr. (1930–2006), who had inherited Ziff Davis from his father William Bernard Ziff Sr. and built the magazine publisher that included titles such as Popular Aviation, PC Magazine, and Car and Driver. [1]
The firm was founded as Och-Ziff in 1994 by Daniel Och with financial support from the Ziff family, founders of Ziff Davis Media. The company completed an initial public offering in 2007. The firm was one of the few hedge funds and private equity companies that completed IPOs before the 2007–2008 financial crisis. [14]
Instead, they formed New York City-based Ziff Brothers Investments, investing their inheritances broadly across equities, debt, real estate, commodities, private equity and hedge funds. They also provided seed money to fund manager Daniel Och in exchange for a 10% stake in Och-Ziff Capital Management which went public in 2007. [5]
One report suggests some of Ellington's hedge funds may have temporarily lost around 25% of their value as they liquidated $2 billion in assets [10] after allegedly missing a margin call from UBS. [ 11 ] [ 12 ] However, from its December 1994 inception through April 2004, the firm delivered a composite annualized return of 15.4%, after fees.
They also provided seed money to fund manager Daniel Och in exchange for a 10% stake in Och-Ziff Capital Management which went public in 2007. [2] The brothers dissolved Ziff Brothers Investments in 2014 and now invest independently. [2] Ziff was - according Rob Goldstone - funding democrats while at the same time an architect of the Magnitsky Act.
Below are the 20 largest hedge funds in the world ranked by discretionary assets under management (AUM) as of mid-2024. Only assets in private funds following hedge fund strategies are counted. Some of these managers also manage public funds and offer non-hedge fund strategies.
His father was the Jewish American media magnate William Ziff Jr. (d. 2006), who had built the Ziff-Davis magazine empire founded by William Bernard Ziff Sr. that included titles such as Popular Aviation, PC Magazine, and Car and Driver. [2] In 1981, Ziff graduated from the Trinity School in New York City where his father served as trustee. [3]
In 2015, Adage was reported to be one of the world's top 10 largest hedge funds after its assets under management doubled in the last four years. [3] It had an annualized return of 9.7% since inception which was higher than S&P 500 benchmark of 6.4%.