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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...