Goldman Plans Long/Short Headed By Prop Trading Chief

Jul 27 2007 | 1:55pm ET

Goldman Sachs, undeterred by the sub-par performance of its flagship hedge fund and non-existent flows into its asset management division, is launching its first fully-fledged long/short hedge fund.

Raanan Agus, the head of its famed equity proprietary trading desk, is moving to Goldman Sachs Asset Management to launch the new, as-yet-nameless fund, The New York Times reports. The offering will trade Goldman’s own money as well as raising capital from outside investors, possibly managing upwards of $10 billion in time, the Times says.

Joining Agus at the new fund will be Kenneth Eberts, currently head of U.S. investments for principal strategies, half of the U.S. team and the whole of the Tokyo-based principal strategies team. The rump of the New York-based U.S. team, as well as those based in London and Hong Kong, will remain with the prop desk.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR