Goldman Focuses on Funding Others

[Dover]

WSJ

After getting burned by investments in its own hedge funds during the financial crisis, Goldman Sachs Group Inc. is turning to the less risky, but potentially less lucrative, business of providing start-up money to hedge-fund managers.

The New York securities firm has raised $600 million from clients such as pension funds, wealthy families and large institutions for a new fund. It plans investments in eight to 10 new hedge funds, to get them up and running, according to people familiar with the matter.

Each hedge fund can expect to receive between $75 million and $150 million from Goldman's fund, which ...

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Hedge Fund enablers...
Wall Streeter need to attend AA.