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Och-Ziff to convert to corporation in April

Alternative asset manager Och-Ziff Capital Management Group LLC said it will change its tax classification to a corporation from a partnership on April 1, 2019.

The conversion was originally set to become effective Dec. 31. The tax classification change is part of a broader restructuring plan it plans to undertake.

The company expects to pay a final partnership distribution for the fourth quarter on March 29, 2019, to shareholders of record as of March 22, 2019.