The role of hedge funds in the rebuilding of Wall Street is still being written.
The direction and extent of regulation is uncertain, the financing streams that most hedge funds once relied on are flowing less freely and the deleveraging of the global financial system continues, driving down industry performance.
In spite of the problems faced by the business as a whole, Daniel Och, publicity-shy head of Och-Ziff Capital Management, a $20bn New York fund, says in a rare interview with the Financial Times he hopes to play a leading role in the rebuilding.
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