“The bank’s investment management unit, Goldman Sachs Asset Management, is launching its Goldman Sachs Multi-Manager Alternatives Fund, which will give ordinary investors the ability to put their savings and retirements in Wall Street’s riskiest products such as convertible bonds, junk bonds, bank loans, mortgage backed securities, credit default swaps, structured products, swaptions, total return swaps, swaps on futures, variance swaps and contracts for difference, among other arcane financial instruments.” The Street reported.
The new Goldman fund managing directors are Jason Gottleib and Ryan Roderick, they will manage fund’s allocations. Gottleib and Roderick have already chosen hedge funds Ares Capital Management, Brigade Capital Management, GAM International Management, Karsch Capital Management and Lateef Investment Management as underlying managers of the Goldman fund’s assets.
The fund, according to a prospectus, will give (the other 99% of) investors exposure to common trading strategies of hedge funds including long-short-equity, event driven investments, relative value trading and opportunistic credit trading.
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