UK Hedge Reported To Have Sold Goldman Sachs Stake

Aug 1 2011 | 11:28am ET

Landsdowne Partners, a European hedge fund with $16 billion AUM, has sold its $850 million stake in Goldman Sachs, according to Reuters.
 
Citing an unnamed source “close to the situation,” the news agency says Landsdowne’s decision to sell is part of a move out of increasingly regulated investment banks and into retail banks.

Reuters says Landsdowne sold its Goldman stake at the beginning of this year.

Shares in Goldman Sachs have taken a 20% dive this year, as it and other investment banks grapple with the effects of the Dodd-Frank regulations on their proprietary trading. Goldman’s June earnings were significantly lower than predicted.

Lansdowne, which scored big shorting banks during the financial crisis, is also having a difficult year, it’s flagship UK fund is down 11% so far this year.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.