Don't forget that he was asleep for most of that time. As for as he's concerned, his daughter died quite recently. It might have been hundreds of years ago to the rest of the world, but to him it happened only a few weeks ago.
Also, he doesn't really want to kill Rai's friends. He's just trying to get Rai to fight him seriously.
The way he said that there wasn't much time left for him or Rai kinda makes me think that he doesn't really want to hurt Rai. I think that he's dying. Since he's going to die soon, he wants to finish the fight they had all those centuries ago. I get the feeling that Muzaka wants to die in battle, and he wants it to be at Rai's hand.
(I hope Frankie kicks his ass for hurting Rai. ) (╬￣皿￣)凸
How many years have passed since his daughter died and now the jerk wants to kill the friends of Rai? This is the most irrational plot arc yet ... did Muzaka suffer some brain damage? SMH