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Tags: Goldman Sachs Traders Said to Prepare Own Hedge Fund

Goldman Sachs Traders Said to Prepare Own Hedge Fund

Monday, 10 January 2011 10:04 AM

Goldman Sachs' last large proprietary trading team is planning to leave the bank in order to start an independent hedge fund, the Financial Times reported.

The Times said that the team, led by Daniele Benatoff and Ariel Roskishas, has got an investment from European hedge fund Brummer & Partners for $300 million. The new hedge fund will be based in London, the Times reported.

Goldman declined comment.

The bank, and other Wall Street banks, have been winding down their proprietary trading desks in light of the "Volcker rule," named after the former Federal Reserve Chairman who authored the regulation to limit the extent to which banks can bet with their own capital.

Banks are considering options such as spinning out desks as separate hedge funds or moving them into their asset management units.

Goldman Sachs star trader Morgan Sze in December was planning to raise more than $1 billion for an Asia hedge fund.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
Goldman Sachs' last large proprietary trading team is planning to leave the bank in order to start an independent hedge fund, the Financial Times reported. The Times said that the team, led by Daniele Benatoff and Ariel Roskishas, has got an investment from European hedge...
Goldman Sachs Traders Said to Prepare Own Hedge Fund
154
2011-04-10
Monday, 10 January 2011 10:04 AM
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