Not long ago, Och ran one of the world's biggest hedge fund firms and managed $48 billion, but then the firm got embroiled in a bribery investigation in Africa. Last year a unit of Och-Ziff pleaded guilty to a federal charge of conspiring to bribe officials in Africa and the firm agreed to pay $412 million to resolve Foreign Corrupt Practices Act violations brought by federal prosecutors and regulators. At the same time, performance at Och-Ziff's funds, particularly its flagship multi-strategy hedge funds, had not done much to inspire investors either.