Goldman takes GEO fund off life support
Wed Jan 20, 2010
Formerly at $7 billion, the fund had declined to around $200 million.
Less than three years after engineering a $3 billion emergency bailout of its Goldman Sachs Global Equity Opportunities Fund, Goldman Sachs Asset Management has shut it down.
Once a $7 billion fund, the quantitative equity vehicle had declined to around $200 million under management since its performance fell 30% during the massive quant meltdown of 2007. After starting 2008 with a rebound, it ran up a modest loss in 2009.
Goldman shut down a related fund, Goldman Sachs North American Equity Opportunities Fund, in late 2007, but it supported GEO, as...
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