Hedge Funds

Och-Ziff raises $2 billion in 2010 despite flat performance

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The wizard of OZ conjures up a powerful display of marketing prowess.

Och-Ziff Capital Management Group has raised $2.3 billion in the first six months of 2010 despite flat performance across all of its funds. As of June 1, Daniel Och’s firm managed $25.6 billion, up from $23.5 billion on January 1.

Investors have crowded into the firm every month this year. October 2009 was the last time Och-Ziff suffered redemptions, when investors took out $200 million.

On June 1, Och-Ziff was able to raise $200 million, despite losing $600 million due to poor performance in May. All of the firm’s funds lost money in May, which was a difficult