Goldman Sachs defends its fund of funds offering
By Lawrence Delevingne
Wed Jul 28, 2010
AR spoke with Kent Clark and Chris Kojima, co-heads of Goldman's fund of funds unit. They say bad press hasn’t hurt business.
Goldman Sachs Asset Management is doing fine, thank you very
Clients continue to invest in hedge funds via Hedge Fund
Strategies - Goldman's fund of funds unit within the $65
billion Alternative Investments & Manager Selection group -
despite bad press for the bank generally and a backlash by many
investors against the fund of funds model.
In fact, the fund of funds unit has consistently grown its
business since the financial crisis and through its public
relations debacle stemming from now-settled Securities and
Exchange Commission allegations of misleading clients. Since
early 2009, Goldman's Hedge Fund Strategies assets have
increased roughly 13% to around $21 billion in assets today
(the bank does not comment on performance or even name specific
Goldman says its fund of funds team is the "largest, deepest,
and strongest" in its long history, with more than 100
professionals, 40 of them on investment and...
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