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Retired hedge-fund honcho Dan Och is a bit of a thrill seeker. Having somehow steered his firm through some heart-pounding, stomach-twisting, non-gravity-defying drops, twists and turns, his addiction to adrenaline kicked in and he threw the whole place back into turmoil, apparently just for kicks, as in the end it achieved nothing.

So how’s Danny feeding his need for adventure these days? By grabbing at every cheap thrill and neck-twisting excitement the markets have to offer.

His family office invested in Coinbase before 2019, giving it returns of more than 500% if it hasn’t sold its stake. Willoughby bet on Stripe before the payments firm’s valuation almost tripled to $95 billion in March, and it’s already gained at least 200% on a stake it bought last year in customer-service software provider Talkdesk, according to data compiled by Bloomberg. This year, Willoughby has invested in cryptocurrency-exchange operator FTX Trading, India’s e-commerce giant Flipkart and ID.me.

Och has also taken advantage of the boom in special purpose acquisition companies, or SPACs, to reshape his fortune.

He set up Ajax I with Glenn Fuhrman, a fellow Goldman alumni and co-founder of Michael Dell’s family office, and helped to lead its initial public offering in October 2020 ahead of its merger with London-based Cazoo. Och’s stake in Cazoo, roughly $150 million, rivals the size of his Sculptor holding. Willoughby has invested in at least three other SPACs including Thimble Point Acquisition Corp., which finalized a deal with health-care firm Pear Therapeutics Inc. this month.

Dan Och’s Fortune Soars With Family Office After Hedge Fund Exit [Bloomberg]

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