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Bailed-Out Goldman Fund Falls In Sept.
September 17, 2007
After rebounding somewhat in August, Goldman Sachs’ Global Equity Opportunities Fund reverted to recent form, losing 1.8% in the first week of September.
The market-neutral hedge fund, the beneficiary of a $3 billion Goldman-led bailout last month, also suffered a rough start last month. The $7.5 billion vehicle dropped 30% in the first two weeks of August, before recovering slightly, ending the month down 23%. But that momentum came to a halt early this month.
If misery loves company, at Goldman Sachs Asset Management, it’s got it: The firm’s flagship hedge fund, Global Alpha, plunged 22.5% last month.
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