WSJ: Och-Ziff helped fund controversial deals in Congo

|About: Och-Ziff Capital Manageme... (OZM)|By:, SA News Editor

Och-Ziff Capital Management (OZM) provided two loans of $234M to Israeli billionaire Dan Gertler to help him finance two controversial mining and oil deals in Congo, the WSJ reports.

Gertler's deals have been criticized for lacking transparency and significantly undervaluing the assets involved.

The report follows Och-Ziff's disclosure last month that the SEC and Department of Justice are investigating some of the firm's investments "in a number of companies in Africa," with its activities in Libya being one area of focus. The WSJ's report doesn't mention Libya.

It also appears that Gertler repaid both loans.