Tuesday, 28 July 2015
Last updated 18 min ago
Apr 17 2008 | 12:59pm ET
Josh Birnbaum, who helped orchestrate Goldman Sachs’ highly-profitable bets against subprime mortgage-backed bonds, has left the firm to found his own hedge fund.
Birnbaum, who was a managing director at Goldman, plans to raise about $1 billion for the fund, Bloomberg News reports. The fund is expected to join a glut of other vehicles pouring into mortgage investing in the wake of the continuing credit crisis.
Birnbaum joined Goldman in 1993 and reportedly made between $5 million and $15 million last year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…