Wednesday, 25 November 2015
Last updated 1 hour ago
May 31 2011 | 9:42am ET
Goldman Sachs Asset Management plans to launch a fund of emerging hedge fund managers as investors increasingly look to smaller funds for stronger returns.
Goldman hopes to raise hundreds of millions of dollars for the fund of funds, Financial News reports. That effort comes alongside Goldman's current fundraising for a hedge fund seeding vehicle, to be headed by Ali Raissi.
GSAM has entrusted the fund of funds to Ryan Roderick, a managing director of hedge fund strategies in New York. That vehicle will seek out undiscovered managers, investing in those willing to offer it a fee break. The seeding fund will take ownership stakes in the funds it selects.
Roderick's fund of funds may also invest in hedge fund startups, FN reports. But it will focus on smaller hedge funds that haven't reach a critical mass of assets under management.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…