The answers for this question (https://stackoverflow.com/a/840411 and https://stackoverflow.com/a/7592152) no longer work as of Git v1.8.3.2 (https://stackoverflow.com/a/19833311). You can do this instead:
1) Define the new branch in .git/config :
[svn-remote "release-branch"]
url = svn+ssh://xxxx@mono-cvs.ximian.com/source/branches/mono-2-2/mcs
fetch = :refs/remotes/git-svn-release-branch
2) Import the SVN branch. SVN_BRANCHED_REVISION is the the revision when the branch happened in SVN.
$ git svn fetch release-branch -r SVN_BRANCHED_REVISION
3) Create branch and hook up a local Git branch to the remote branch:
$ git checkout -b release refs/remotes/git-svn-release-branch
5) Update
$ git svn rebase