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OCH ZIFF SNAPS UP DEBENHAMS STAKE

HEDGE fund Och-Ziff yesterday emerged as the buyer of TPG’s stake in department store chain Debenhams after the US buyout firm made its exit from the business earlier this week. Och-Ziff, one of the world's largest hedge fund managers, said it now owns 11.52 per cent of Debenhams, headed up by chief executive Rob Templeman.