Tuesday, 23 September 2014
Last updated 2 hours ago
Dec 9 2011 | 12:17pm ET
Goldman Sachs will invest up to $200 million in a new hedge fund planned by a former Barclays Capital commodities trader.
The investment in Todd Edgar's new venture will come from Goldman's new seeding fund. The still unnamed hedge fund will get between $150 million and $200 million from Goldman, which will receive a portion of the new fund's fee income.
Edgar and his team left Barclays in the third quarter with plans to launch a hedge fund. The New York-based fund will trade metals, beginning next year, Bloomberg News reports.
Edgar's fund is the second in the Goldman seeding fund's stable, after Palestra Capital Management, founded earlier this year by Andrew Immerman, formerly of SAC's CR Intrinsic unit, and Jeremy Schiffman, formerly of TPG-Axon. Goldman has raised $600 million in outside investment for the fund and hopes to bring that total to $1 billion.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.