Och-Ziff Bounces Back In April

May 5 2008 | 2:00am ET

Och-Ziff Capital Management’s hedge funds rebounded in April, with investors continuing to pour new money into its offerings.

Three of the New York-based firm’s four hedge funds posted positive returns last month, pulling two out of the red for the year. The firm’s flagship, OZ Master Fund, added 0.98% in April to bring its year-to-date return to 0.13%.

Only its OZ Asia Master Fund turned in a loss in the first month of spring, falling 0.14%. It is now down 2.75% in 2008.

Och-Ziff also added $606 million to its assets under management, both in new investments and through investment performance. The firm now manages $33.4 billion, the same as on New Year’s Day but up marginally from the $33.3 billion it managed at the end of the first quarter.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…