Och-Ziff, one of the hedge funds suspected by Lehman Brothers’ lawyers of short-selling the company into the dirt, saw its assets under management increase by $200 million in August on increased investor deposits, Bloomberg reports.
As of Sept. 1, Och-Ziff’s total holdings rang in at $26.1 billion (for a point of reference, that’s what it would take to buy Burger King, the company, eight times — or a Buck Double, the sandwich, 26.1 billion times). The firm’s OZ Master fund was up 3% year to date, and in August its funds generally outperformed the S&P 500, which dropped 4.7% on the month. Och-Ziff says it currently has about 600 investor relationships.
Daniel Och started the firm in 1994 with the Ziff family, which made its fortune by essentially inventing the trade magazine and subsequently got into the hedge fund business.
