Ebb & Flow

Following in the footsteps of buy-out firm Blackstone Group, hedge fund Och-Ziff filed to raise up to $2 billion in an IPO last week. The firm has made a handful of investments in private biotechs and holds shares and debt in public biotech companies in its Oz Management fund.

In September 2006, Och-Ziff participated in a $60 million series D round for genetic disease company Amicus (FOLD), which raised $75 million in an IPO in May. The firm also participated in a $100 million series F round for fibrotic disorders company FibroGen in 2005 and a $15 million series B round in siRNA company Acuity in 2004...