Launches & Closures

Goldman’s Sze said to be raising external capital for hedge fund


The next round of large Asian hedge fund managers will no doubt come out of the bank prop desks, following the recent passage of the Dodd-Frank Act in the US that will limit large investment banks from running internal proprietary trading desks. Leading the pack is Goldman Sachs Principal Strategies group, led by Hong Kong-based Morgan Sze, which is said to be looking at raising external capital for a hedge fund.

Plans under consideration may see the unit, which makes prop desk trades with the bank’s own money, moved to Goldman’s asset management arm by year-end, with fundraising