Daniel Och , founder of $25 billion hedge fund firm Och-Ziff Capital Management Group LLC , looks out from the podium over the crowd of investors and money managers nibbling on chicken salad at Manhattan’s St. Regis hotel and repeats a quip from investor Warren Buffett .
Goldman Sachs Group Inc . is seeking money to bankroll fledgling hedge funds, its second attempt since 2008 to break into a business now dominated by Blackstone Group LP , according to three people with knowledge of the plan.
Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co.