New Goldman Hedge Fund Down 6% In January

Feb 5 2008 | 1:00am ET

Goldman Sachs’ effort to diversify its hedge fund offerings is off to a rocky start.

Its new hedge fund, Goldman Sachs Opportunity Partners, finds itself in the same position its quantitative peers found themselves last year: in the red. GSIP, Goldman’s first stock-picking offering, fell 6% last month, the Wall Street blog DealBreaker.com reports.

The new fund launched in January with $7 billion, making it one of the largest-ever hedge fund debuts. It is headed by two of the firm’s former senior proprietary traders.

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