Sculptor Seeking a Buyer

How Dan Och pressured the multistrategy firm he founded to put itself up for sale.

Illustration by II

Illustration by II

Score this round for Dan Och.

Sculptor Capital Management Friday announced that it will put the multistrategy specialist up for sale as part of a settlement with Och, who has waged a nasty battle with the firm in recent months.

In its announcement, Sculptor said that its board had formed a special committee comprised solely of independent directors to find a buyer as part of a settlement with Och and the four other former executive managing directors who had filed a books and records action in the Delaware Court...

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.