Dan Och/Sculptor: pragmatic traders decline to second his emotions

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Dan Och became a billionaire by understanding the unsentimental finality of a trade. Now his feelings may be getting the better of him. On Wednesday, the prominent US investor sent a broadside to the board of Sculptor Capital Management — née Och-Ziff. He alleged that a July buyout price, which valued the fund manager at $639mn, represented “breaches of fiduciary duty”. 

Och has quarrelled with Sculptor’s management for years. In particular, he objected to the $145mn chief executive pay package in 2021. A lawsuit he filed against the company was settled with an agreement to pursue a sale. The resulting deal is now the s