Och-Ziff to push ahead with IPO

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Och-Ziff Capital Management is moving forward with its plans for its initial public offering, but is planning to raise only about half as much as originally expected. Och-Ziff plans to list on the New York Stock Exchange in November, despite turbulent markets and the lackluster performance of other alternative asset manager stocks.

During the third quarter, the firm managed to attract net inflows of $1.2 billion and grow its assets under management to $30.1 billion, up from $29 billion at the end of June and $22.6 billion at the end of 2006.

However, the value of assets declined for the