Goldman Sachs raises new hedge fund

The one area where Goldman Sachs has taken its lumps along with everyone else is hedge funds. The woes of its flagship Global Alpha and the bailed out Global Equity Opportunities Fund have been well documented. It intends to rebuild its reputation with its new fund--the Opportunistic Multi-Disciplinary Investment Fund--that could launch with up to $6 billion, making it one of the largest fund launches ever. According to the Financial Times, the fund will be run by Raanan Agus and Kenneth Eberts and could be operational in January. It will eschew the quantitative approach--a lot of these funds had problems in the recent turmoil--in favor of a stock-picking approach. It will concentrate on U.S. stocks. We'll see how it fares.   

For more:
- here's the Financial Times article

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