Och-Ziff Capital Management Gr

Mvelaphanda Holdings, Och-Ziff and Palladino Cr...





NEW YORK, LONDON and JOHANNESBURG, South Africa, January 29 /PRNewswire/ --

    Mvelaphanda Holdings (Proprietary) Ltd ("Mvela Holdings"), OZ Management
LP ("OZ Management"), a subsidiary of Och-Ziff Capital Management Group LLC
(NYSE: OZM) ("Och-Ziff") and Palladino Holdings Ltd ("Palladino") have
announced the creation of a joint venture, Africa Management Limited.



    As part of the joint venture, Africa Management Limited has established
African Global Capital I, L.P. ("African Global Capital"), as a platform to
invest in both the private and public markets across Africa, with a bias
towards natural resources and related businesses. The new joint venture will
combine the regional infrastructure and expertise of Mvela Holdings and
Palladino together with the global investment management expertise of OZ
Management. Africa Management Limited will act as the exclusive vehicle for
Mvela Holdings and OZ Management to pursue private investment opportunities
within the region.



    African Global Capital consists primarily of assets contributed by Mvela
Holdings and Palladino, and a capital commitment from funds managed by OZ
Management for the acquisition of additional assets and the further
development of existing investments. Contributed assets range from
exploratory mining and energy concessions to mature producing mining assets
and public equity positions across Africa. Further assets will be contributed
by Mvela Holdings to African Global Capital in addition to further capital
commitments by funds managed by OZ Management, subject to the completion of
certain conditions including appropriate regulatory approvals.



    It is expected that further funds managed by Africa Management Limited
will be formed in the near future, which will include capital commitments
made by third party investors.



    Tokyo Sexwale, founder of Mvela Holdings, said: "We intend to build on
our already strong foothold in African investments in partnership with
Och-Ziff. We have a strong historical relationship with Och-Ziff having
invested together in transactions in the past, and their abilities in
navigating financial markets have always impressed us. The partnership with
Och-Ziff in African Global Capital will help us accelerate in building the
leading African investment firm."



    Daniel Och, Chairman and Chief Executive Officer of Och-Ziff, said: "We
are delighted to be entering into partnership with Tokyo Sexwale, Mvela
Holdings and Palladino. Mvela Holdings has an exceptional track record of
value creation and we look forward to working together to grow our combined
venture and create the leading investment management business in the region."



    Mark Willcox, Chief Executive Officer of Mvela Holdings and newly
appointed Chief Executive Officer of Africa Management (UK) Limited, said:
"We have a strong pipeline of transactions across a broad spectrum of
industries and geographies. We are excited by the opportunities available to
African Global Capital and feel our partnership with Och-Ziff and Palladino
places us in a prime position to capitalise on them."



About Mvela Holdings

    Mvela Holdings is one of the largest and most pre-eminent Black Economic
Empowerment groups in South Africa with a strong and proven track record in
significant and highly accretive investments over a broad range of industries
across Africa. Mvela Holdings is a private investment company founded in 1998
by Tokyo Sexwale, Mikki Xayiya and Mark Willcox. It is the controlling
shareholder of JSE-listed Mvelaphanda Group Ltd and has a significant
interest in JSE-listed Mvelaphanda Resources Ltd. It has other substantial
privately held interests in the mining, energy, real estate and various other
industrial sectors in South Africa and Africa.



About Och-Ziff Capital Management Group LLC

    Och-Ziff is one of the world's largest and most recognized institutional
alternative asset managers with offices in New York, London, Hong Kong,
Tokyo, Bangalore and Beijing. Och-Ziff's funds seek to deliver consistent
positive, risk-adjusted returns with a strong focus on risk management and
capital preservation. Och-Ziff's multi-strategy approach combines global
investment strategies, including merger arbitrage, convertible arbitrage,
equity restructuring, credit and distressed credit investments, private
equity and real estate. Och-Ziff had approximately US$33.2 billion of assets
under management for over 700 fund investors as of January 1, 2008. More
information about Och-Ziff is available on the firm's web site at
www.ozcap.com.



About Palladino Holdings Ltd

    Palladino, a private investment vehicle, was founded in 2003 by Walter
Hennig by way of consolidating various strategic assets in Africa. The vision
for Palladino was to form an international investment finance vehicle,
focusing on early stage predominantly African resource, property and
industrial projects. Palladino holds a variety of significant mining, energy
and other assets in Africa.



Forward-Looking Statements

    The information contained in this press release may contain
forward-looking statements that reflect the current views of Och-Ziff and its
affiliates, including OZ Management (the "Company") with respect to, among
other things, future events and financial performance. Such forward-looking
statements are generally identified by terminology such as "outlook,"
"believe," "expect," "potential," "continue," "may," "will," "should,"
"seeks," "approximately," "predicts," "intends," "plans," "estimates,"
"anticipates" or the negative version of those words or other comparable
words.



    Any forward-looking statements contained in this press release are based
upon historical information and the current plans, estimates, and
expectations of the Company. The inclusion of this forward-looking
information should not be regarded as a representation by the Company or any
other person that the future plans, estimates or expectations contemplated by
the Company will be achieved. Such forward-looking statements are subject to
various risks and uncertainties, including but not limited to global and
domestic market and business conditions, the Company's successful execution
of business and growth strategies and regulatory factors relevant to the
Company's business, as well as assumptions relating to the Company's
operations, financial results, financial condition, business prospects,
growth strategy and liquidity.



    If one or more of these or other risks or uncertainties materialize, or
if the Company's assumptions prove to be incorrect, the Company's actual
results may vary materially from those indicated in these statements. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements and risks that are included
in the Company's filings with the Securities and Exchange Commission,
including but not limited to its registration on Form S-1 (registration no.
333-144256). Any forward-looking statements contained in this press release
are made only as of the date hereof. The Company does not undertake any
obligation to publicly update or review any forward-looking statement,
whether as a result of new information, future developments or otherwise.



Web site: http://www.ozcap.com