(Bloomberg) Och-Ziff Capital Management Group LLC succeeded in pulling in fresh capital for a second straight quarter, but the cash didn’t come from their hedge funds — which keep losing money. Net inflows of $1.2 billion came from issuing collateralized loan obligations in the period ended June 30, the New York-based firm said in a statement Thursday. The hedge fund business — where billionaire Dan Och’s firm generates most of its fees — saw $367 million in withdrawals from its multistrategy funds and another $51 million from its credit funds.
Och-Ziff Lures Cash With CLOs as Its Hedge Fund Clients Flee
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