Tuesday, 30 September 2014
Last updated 1 hour ago
Jan 18 2008 | 8:02am ET
Goldman Sachs’ latest hedge fund may be the largest launch in the history of the industry, but it needed help.
The Wall Street giant’s new Goldman Sachs Investment Partners fund raised $7 billion, the Financial Times reports. The figure is lower than the rumored $10 billion it supposedly garnered last month, but higher than its original target of between $4 billion and $6 billion. But to match the figure raised by Menlo Park, Calif.-based Makena Capital Management last year—and bolster Goldman’s battered hedge fund reputation—GSIP required as much as $2 billion of Goldman’s own capital, according to investors.
GSIP is the firm’s first stock-picking hedge fund, run by former global proprietary trading chief Raanan Agus and former U.S. prop trading head Kenneth Eberts. The firm’s other hedge funds are quantitative offerings, and suffered terribly amid last year’s credit crisis and market volatility.
Goldman is also currently raising capital for its new Mortgage Credit Opportunities fund, which aims to take advantage of the subprime mortgage markets that wreaked havoc on its other hedge funds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...