Goldman Vets Net Hundreds Of Millions For Hedge Funds

Oct 12 2010 | 2:25pm ET

Amidst possibly the worst fundraising environment ever for hedge funds, a Goldman Sachs pedigree remains something of a golden ticket.

Three former Goldman executives have each raised at least $500 million for their new hedge fund ventures, Bloomberg News reports. They are led by Eric Mandelblatt's Soroban Capital Partners, which will launch next month.

Also expected to be at the half-billion dollar level at inception are Pierre-Henri Flamand and Mark Carhart. The former headed Goldman Sachs Principal Strategies before his retirement earlier this year, the latter Goldman's former flagship hedge fund, Global Alpha, until his exit last year. Mandelblatt was U.S. chief operating officer of principal strategies before joining TPG-Axon Capital Management as co-CEO five years ago.

"It's an incredibly difficult environment," Emma Sugarman, head of capital introduction for the U.S. at BNP Paribas, told Bloomberg. "There does, however, seem to be an appetite for people who have a certain pedigree."

Like Soroban, both Flamand's Edoma Capital and Carhart's Kepos Capital will debut next month, although Kepos will manage only internal capital until January.


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