Goldman Sachs eats its own dog food, profitably
Recall the rescue of the Goldman Sachs Global Equity Opportunities fund. Executives pitched it not as a bailout but as an opportunity. Indeed, Goldman Sachs put about $2 billion of the $3 billion package last month. Other investors included Hank Greenberg and Eli Broad. The good news, according to the Financial Times, is that Goldman has already turned a paper gain of $300 million, as the fund staged a turnaround. We presume Greenberg and Broad have also fared well. Previous investors still have not recovered their losses. Hopefully, that will change soon.
For more:
- here's the Financial Times article
Related articles:
- More on the big boys at Goldman Sachs and independent research
- Restructuring pros sense big business
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