Saturday, 20 September 2014
Last updated 18 hours ago
Aug 3 2010 | 3:49am ET
Despite having its name dragged through the mud by the Securities and Exchange Commission, Goldman Sachs says investors are continuing to flock to its fund of hedge funds unit.
Kent Clark and Chris Kojima, co-heads of Goldman Sachs Asset Management’s Hedge Fund Strategies division, told AR magazine that clients continue to invest in its funds of funds. The growth of the unit—it has grown 13% to $21 billion since the beginning of 2009—comes as most funds of hedge funds are having trouble holding on to investors.
Recent inflows have also come in the face of the SEC lawsuit against Goldman, in which the bank was accused of misleading investors in a collateralized debt obligation it allegedly structured and marketed on behalf of hedge fund Paulson & Co. The firm settled those charges last month, agreeing to pay $550 million.
According to Clark and Kojima, Goldman’s fund of funds business has its “largest, deepest and strongest” team ever. The unit currently employs more than 100 people.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.