Wednesday, 2 September 2015
Last updated 6 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…