Sunday, 24 May 2015
Last updated 2 days ago
Aug 13 2007 | 8:54am ET
The losses are accelerating and piling up at Goldman Sachs’ flagship hedge fund, Global Alpha.
The $9 billion hedge fund’s year-to-date losses have more than doubled in the first two weeks of August; it is down some 26% in 2007. The one-time Cadillac of Hedge Funds has shed an eye-popping 40% in just over a year.
Two weeks ago, on July 27, the fund was down just 12%.
Goldman has categorically denied rumors that Global Alpha is in danger of shutting down, though the fund was partly blamed for last week’s plummeting equities markets, as it shed liquid positions to meet redemption requests. And those requests may accelerate in the coming days.
The news of that Global Alpha is a quarter lighter today than on New Years’ Day could not have come at a worse time for the hedge fund: Its clients have until Wednesday to demand their money back on Sept. 30. Investors pulled some $394 million on June 30; they added a mere $142 million.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…