Goldman In Talks To Sell Admin. To State Street

Jun 11 2012 | 1:55am ET

Goldman Sachs is poised to sell its hedge fund administration unit to State Street, a move that would create the largest such business in the world.

Goldman has been mulling a sale of its fourth-ranked administrator for some months. The bank is currently in "late stage" negotiations with State Street and a deal could come by the end of this month, the Financial Times reports.

The Goldman admin. unit has some 500 clients—among them Och-Ziff Capital Management and York Capital Management—and about $200 billion in assets under administration. The bank has about 250 administration employees around the world. State Street currently has about $500 billion in assets.

The combined $700 billion business would allow State Street to leapfrog Citco Fund Services, currently the largest hedge fund administrator in the world.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...