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: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note