Och-Ziff Capital Management Group is seeking to raise $250 million in a public offering of its class A shares. The U.S. global alternative asset manager will issue the shares representing limited liability company interests. It is looking to offer to underwriters an option to buy up to an additional 15 percent of the number of class A shares up for sale.

It aims at using the net proceeds from the offering to buy back at 95 percent of par a portion of the outstanding indebtedness and for working capital and other general corporate purposes. On the transaction Goldman Sachs & Co., Bank of America Merrill Lynch and Morgan Stanley & Co. will serve as joint book runners.

Click here for the release from PR Newswire.