git-svn: Out of memory while cloning large (cca. 48000 commits) SVN repo

Hello,

I’m trying to clone an SVN repository with around 48000 revisions,
several branches and tags (svn://svn.zabbix.com). After a few
thousands commits, Git failed (complaining something about sed, I
haven’t wrote that down), so I svnrdumped the whole repository onto my
filesystem.

After that, I used this command:

git svn clone -s --prefix=origin/ file://`pwd`/zabbix-svn zabbix-git/

to dump all the repo into a new Git repository. It ran for around 24
hours to report an Out of memory error at the end. Although I realised
since then that this was a somewhat bad idea, I still don’t think
it should happen this way. Or should it?

Best,
Gergely