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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Why Is The Shipping Industry Underwater?

Jul 31 2014 | 7:31am ET

Anyone who’s taken a look at the global shipping industry recently probably knows...

 

Publisher's Note