Friday, 29 August 2014
Last updated 13 hours ago
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.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...