Thursday, 26 March 2015
Last updated 1 hour ago
Oct 19 2010 | 1:47am ET
Goldman Sachs' former proprietary trading chief has raised more than $1 billion for his new hedge fund.
Pierre-Henri Flamand's Edoma Capital will launch its first fund next month with US$820 million. The London-based firm has also won additional commitments of US$450 million, MarketWatch reports.
None of the money comes from Flamand's former employers: Goldman will not invest in the new hedge fund.
Flamand ran Goldman's Principal Strategies division for three years. He retired from the firm earlier this year to found Edoma.
Goldman has since decided to shutter Principal Strategies to come into compliance with the newly-enacted Volcker rule, which bars banks from prop. trading.
Edoma features several other Goldman veterans, including Flamand's former deputies, Ali Hedayat and Emmanuel Niogret. Former UBS prime brokerage chief Martina Slowey serves as the firm's chief operating officer.
Flamand's is one of three hedge funds led by former Goldman executives debuting next month, with each expected to top US$500 million at inception. Eric Mandelblatt, the former U.S. chief operating officer of Principal Strategies, is behind Soroban Capital Partners, and former Global Alpha chief Mark Carhart is launching Kepos Capital.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…