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Och-Ziff to Seek $2 Billion for Its Biggest Real Estate Fund

  • Firm is said to set target for its fourth property fund
  • Real estate group has been bright spot for hedge fund manager
Bloomberg business news
Och-Ziff Is Said Looking to Raise $2 Billion for Real Estate Fund
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Och-Ziff Capital Management Group LLC is seeking to raise its largest real estate fund ever after a period of change for the firm, including new leadership.

Billionaire Dan Och’s hedge fund firm is targeting $2 billion for its fourth fund focused on opportunistic property investments as soon as the end of the year, according to people familiar with the matter. New York-based Och-Ziff has also raised about $750 million for a real estate debt strategy and is gathering a $150 million affordable-housing investment pool, which would be exempt from taxes, said the people, who asked not to be identified because the information is private.