Och-Ziff Capital Management was founded in 1994 by billionaire investor Daniel Och along with partners including James Levin and Steven Schonfeld. The firm quickly grew into one of the largest multi-strategy hedge funds in the world, managing money for institutions such as pension funds, sovereign wealth funds, and endowments. Headquartered in New York, Och-Ziff became known for its global investing approach across equities, credit, structured products, real estate, and private investments, with offices in major financial centers including London, Hong Kong, and Dubai. The firm went public in 2007, listing on the New York Stock Exchange during the peak of the hedge-fund boom. In 2016 the company paid hundreds of millions of dollars in penalties to resolve investigations related to bribery violations connected to investments in Africa, and in 2019 the firm rebranded as Sculptor Capital Management as part of an effort to move past the scandal and reposition the business in the institutional asset-management industry.