Goldman Hedge Funds Back From the Brink
Posted by Jason on 06/25 | 07:00 AM
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The two hedge funds run by Goldman Sachs on the verge of collapse last summer in 2007 are on the comeback in 2008.
The Global Alpha and Global Equities Opportunities Fund run by Goldman Sachs are up 19% and 7% respectively for the year. Last summer in the midst of the credit crunch and massive outflows of cash leaving the fund by scared investors, the Global Equity Opportunities fund lost almost 30% just in August. The other fund Global Alpha lost 20% that month.
Almost $3 billion was withdrawn by investors after the scare and Goldman was forced to bail out the Global Equity Opportunities fund with $2 billion of their own money as well as $1billion from outside investors such as former AIG Chief executive Hank Greenburg.
[source: Marketwatch.com]
The Global Alpha and Global Equities Opportunities Fund run by Goldman Sachs are up 19% and 7% respectively for the year. Last summer in the midst of the credit crunch and massive outflows of cash leaving the fund by scared investors, the Global Equity Opportunities fund lost almost 30% just in August. The other fund Global Alpha lost 20% that month.
Almost $3 billion was withdrawn by investors after the scare and Goldman was forced to bail out the Global Equity Opportunities fund with $2 billion of their own money as well as $1billion from outside investors such as former AIG Chief executive Hank Greenburg.
[source: Marketwatch.com]
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