Goldman Launches Hedge Fund Seeding Venture

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.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of