Saturday, 24 September 2016
Last updated 1 day ago
Dec 11 2006 | 10:31am ET
Yes, Goldman Sachs has hired a slew of Amaranth Advisers traders to help boost its waning hedge fund performance. No, none of them is named Brian Hunter.
In fact, none had anything to do with the disastrous natural gas trades made by Hunter that sent Amaranth into oblivion. Nor did any share Hunter’s Calgary, Alberta, office. Instead, in a year in which its flagship Global Alpha Fund has taken a nasty 12% tumble, Goldman Sachs Asset Management has scooped up Gregg Felton’s 17-member debt investment team to set up a credit trading group.
Fixed-income funds are a growing sector of the nearly $2 trillion hedge fund industry. GSAM plans to seed the New York- and Singapore-based trading team’s new fund with its own capital before opening it to outside investors next year.