Goldman Sachs redeems from rescued fund

Fri Mar 28, 2008

Goldman Sachs has withdrawn 90% of the $2 billion it used to rescue one of its struggling hedge funds last summer, according to the Financial Times.

At the end of February, Goldman reclaimed $1.8 billion of the capital it used to bail out its Global Equity Opportunities Fund last August. The capital had been locked in until that time.

Eli Broad, the U.S. billionaire who also came to the fund’s aid by investing money last August alongside Perry Capital and others, is no longer invested either, according to the FT. The group invested $1 billion in August.

Despite several of the firm’s...

ISSN: 2151-1845 / CDC10004H

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