City AM – Hedge fund Lansdowne Partners has sold its $850m (£517m), stake in Goldman Sachs, amid fears that increased regulation in the US could stunt the investment bank’s proprietary trading arm.
Lansdowne has sold almost 5m shares in Goldman – just under one per cent of the bank’s total share capital – having previously been one of its top twenty investors. The stake is almost 10 per cent of the $10bn funds Lansdowne has under management.
