MSNBC- Goldman Sachs raised $7bn for its latest hedge fund, making GS Investment Partners the largest fund launch ever and securing the US investment bank’s reputation as a powerhouse in the hedge fund industry.
The new fund, run by Raanan Agus and Kenneth Eberts, who moved over from running the proprietary trading desks globally and in the US respectively, is the first from the bank to rely on manager skill to select shares.
The launch follows a disastrous year for the bank’s core quantitative, or computer-driven, hedge funds and is part of a move by the bank to increase the range of hedge fund strategies.
