Goldman Asset Management Chief To Step Down

Mar 5 2008 | 8:23am ET

Peter Krauss, the co-head of investment management at Goldman Sachs credited with building the firm into an asset-management powerhouse, is to step down at the end of March.

Krauss’s London-based co-head, Ed Forst, will take over sole management of the nearly $1 trillion unit.

Under Krauss’s leadership, Goldman boosted its assets under management by about 30% per year, for the most part without major acquisitions. The firm also became a major player in alternative investments, with about $100 billion in hedge fund, private equity and real estate assets under management.

But the firm’s hedge funds have performed poorly in recent years, most notably its flagship, Global Alpha. The firm fell from second place to seventh place among U.S. hedge fund managers, after assets under management slipped by 27%. But the Financial Times reports that people close to the matter say the hedge fund troubles were not related to Krauss’s retirement.

Krauss is to become a senior director at the Wall Street giant.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR