Goldman Sach's new hedge fund play
Goldman Sach's hedge fund woes have been widely reported. Internally, it's in sore need of a new flagship sort of fund, and a lot was made when it allowed an executive to set up an in-house fund. So what to make of the new $500 billion private equity fund Goldman is raising to invest in hedge funds? The new fund has inked its first deal: It will take a 10 percent stake in London-based Winton Capital, according to the Financial Times. You can bet other deals will be on the way. The new Goldman fund is being managed by former investment banker Jonathan Sorrell, son of advertising big-wig Martin Sorrell. It's unclear if this is a way of prospecting for talented managers or a way to find winners for clients--or both. Â
For more:
- here's a Financial Times article
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