Och-Ziff Turning Baby Pictures, Lack Of Things To Do In Oklahoma Into Big Returns

The hedge fund is getting into the gambling biz.

Half Och-Ziff's.

It helps to have a personal touch when demanding 15% interest rates on your loans. It’s even slightly less risky than what the firm’s been doing in Africa.

The Jenas built their $30 million gambling den thanks to a high-priced loan from New York-based hedge fund Och-Ziff Capital Management. More than half of the casino’s profits go to the firm...“And they deserve it,” Smith said. To her, the relationship has become personal. She calls Mark Schwartz, an executive in Och-Ziff’s real estate group, a close friend. He brings her pictures of his baby when he visits to check on the investment.

Och-Ziff Wins When You Lose as Fund’s Indian Casino Bets Pay Off [Bloomberg]