The time is ripe for hedge funds deals. Despite some big issues for credit-related funds and some high-profile macro funds, top banks are taking the opportunity to expand their presence. Goldman Sachs continues to rebuild after its near-disasters last year. Financial News Online reports that the company just bought a minority stake in Claren Road Asset Management, a credit long-short fund. Morgan Stanley, meanwhile, just bought into its seventh hedge fund, Hawker Capital. Clearly, the demand is there. If you're a top bank, you've got to have a top-shelf product line. We'll see more deals.     

For more:
- here's the Financial News Online article

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