Och-Ziff Eyes IPO

The Blackstone Group's (BX Quote) lackluster initial public offering hasn't doused alternative investment funds' interest in turning to regular Joes for public funding.

Och-Ziff, an investment manager founded in 1994 by Daniel Och and the Ziff family, has filed preliminary documents with the Securities and Exchange Commission for an IPO that would aim to raise some $2 billion.

Goldman Sachs and Lehman Brothers are underwriting the offering, according to the SEC filing.

A call to Jeffery Blockinger, Och-Ziff's chief legal officer, wasn't immediately returned.

Och-Ziff, which invests in a wide array of assets via more than 700 investment funds, managed approximately $26.8 billion as of April 30. The filing didn't disclose the timing for the proposed offering.

The company's IPO plan comes on the heels of Blackstone's much-heralded public share offering. Blackstone shot up 13% in its first day of trading, but it fell below its initial $31 offering price two days later, primarily because of grousing on Capitol Hill about private equity and hedge funds' outsized returns.

Blackstone closed last Friday at $29.27.

Want more? Check out TheStreet.com TV video. Mark DeCambre says this deal might attract Congressional scrutiny.