Sunday, 19 April 2015
Last updated 3 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…