REPORT: Och-Ziff considered selling part of itself to Pimco

A multibillion-dollar hedge fund firm considered selling itself earlier this year amid a government investigation, The Wall Street Journal reports.Och-Ziff Capital Management considered selling part of itself to other asset managers, including Pimco, according to The Journal's Sarah Krouse and Rob Copeland.Joe Snodgrass, a media rep for Och-Ziff, told Business Insider that the firm is "not contemplating selling any part of the firm or any other strategic transactions."The Journal's reporters first broke the news on Twitter:Earlier this month, Och-Ziff's partners prepared to set aside $500 million for a settlement with the US government. Och-Ziff has been involved in an investigation about whether it knowingly paid bribes in exchange for an investment from Libya's sovereign wealth fund.The firm said it had added $214 million in reserve for its ongoing Foreign Corrupt Practices Act investigation, bringing the total reserve to $414 million, according to its second-quarter earnings call.SEE ALSO:This is the biggest trend in the hedge fund world right nowSEE ALSO:A look inside the huge hedge fund that just went big on Morgan StanleyJoin the conversation about this storyNOW WATCH: MALCOLM GLADWELL: 'Anyone who gives a single dollar to Princeton has completely lost their mind
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