Saturday, 25 October 2014
Last updated 1 day ago
May 17 2011 | 10:17am ET
Goldman Sachs is raising money for a hedge fund seeding vehicle, some three years after it abandoned its last seeding effort.
The Wall Street giant has been in talks with potential investors for the past year, Bloomberg News reports. The Blackstone Group recently closed its second hedge fund seeding vehicle with $2.4 billion.
Goldman's new seeding plan involves a joint venture between its hedge fund strategies group, which invests on behalf of clients, and its Petershill Fund, a private equity vehicle that invests in hedge fund firms. The venture is being overseen by Ali Raissi.
It is unclear how much Goldman hopes to raise for its new effort.
Goldman shuttered its previous seeding fund in 2008 amidst the financial crisis. The bank seeded two hedge funds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.