Och-Ziff Capital Management Group and Bank of America Merrill Lynchhave announced the launch of the Och-Ziff European Multi-Strategy UCITS Fund, offering access to Och-Ziff’s European investment expertise, as part of Bank of America Merrill Lynch’s UCITS III-compliant fund platform, Merrill Lynch Investment Solutions.

The investment objective of the Och-Ziff European Multi-Strategy UCITS Fund is to achieve consistent, absolute returns with low volatility, primarily by seeking to exploit pricing inefficiencies in equity and debt securities of European companies.

The fund, employing a team-driven investment process led by Och-Ziff’s Head of European Investments, Michael L. Cohen, pursues a diversified investment approach across long/short equity special situations, merger arbitrage, convertible/derivative arbitrage and credit strategies.

Och-Ziff has been appointed as the investment manager to the fund with Merrill Lynch International acting as sponsor.

Daniel S. Och, founder, Chairman and Chief Executive Officer of Och-Ziff, noted: "We are pleased to extend investors access to our investment capabilities and talented investment team in Europe through a UCITS III-compliant fund. The Merrill Lynch Investment Solutions - Och-Ziff European Multi-Strategy UCITS Fund further enhances the investment solutions and products we offer our investors."

Mike Stewart, co-head of Global Equities at Bank of America Merrill Lynch, commented: “Och-Ziff Capital Management Group is one of the leading global institutional investment management firms and we look forward to partnering with them on our UCITS platform. Och-Ziff has a strong thirteen-year history of investing in Europe and will further offer our investors investing opportunities with a multi-strategy approach.”