Friday, 19 September 2014
Last updated 3 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.