Goldman Sachs New Long-Short Mutual Fund, a Retail Hedge Fund (247WallSt)
Goldman Sachs Group Inc. (NYSE: GS) is one of the top brokerage firms and investment banking firms on Wall Street. The bulk of its clients are wealthy individuals and institutional investors. By and large the company has been inaccessible to most of the public, but that has been changing as the company has announced more fund products of late — and now Goldman Sachs Asset Management announced the launch of the Goldman Sachs Long Short Fund (GSEAX, GSLSX). In short, this is a hedge fund type of strategy that is structured under a regular mutual fund.
Blackstone, PAAMCO Seed New Hedge Fund Raveneur (Finalternatives)
A new hedge fund helmed by a Tricadia Capital Management and Eton Park Capital Management veteran has won some big backers. Mark Black’s Raveneur Investment Group has won $200 million in seed capital from the The Blackstone Group L.P. (NYSE:BX) and $150 million from Pacific Alternative Asset Management. Both firms are known for their success in the hedge-fund seeding arena. New York-based Raveneur is focused on opportunities presented by Europe’s start-and-stop recovery and U.S. event-driven plays, Reuters reports. In particular, Black currently favors financial and automotive names in Europe, including Italy and Spain.
Fed caution about rate hike right move: Ray Dalio (CNBC)
Ray Dalio, founder of the world’s biggest hedge fund, told CNBC on Wednesday that the Federal Reserve should wait for signs of inflation before it raises interest rates. Fed Chair Janet Yellen’s cautious bearing to winding down easy monetary policy has been the correct approach, the founder of Bridgewater Associates said in a “Squawk Box” interview. “If I were running monetary policy, I’d wait to see for the whites of the eyes of inflation,” he said, because the Fed should not be ahead of market expectations. Bridgewater manages $163 billion overall, including nonhedge fund money.
Following the Vikings (and Other Tiger Cubs) (InstitutionalInvestorsAlpha)
O. Andreas Halvorsen‘s Viking Global Investors is widely admired as one of the most successful of the so-called Tiger Cubs, the descendants of Julian Robertson Jr.’s legendary hedge fund firm, Tiger Management Corp. The admiration is especially strong among Halvorsen’s former colleagues and other managers with ties to Tiger. In the second quarter, Greenwich, Connecticut-based Viking had among the most-emulated portfolios by the other Tiger Cubs, Seeds (those who received start-up capital from Robertson), Grandcubs (those who previously worked for Tiger Cubs) and other Tiger affiliates.
Hedge Fund Breaks Ground on Steamboat’s Largest Office Building (DigitalJournal)
Ski towns are all about lifestyle. Everyone’s focused on outdoor living, and the local economies are support systems for all the fun. But virtualization – the ability to do business and connect with colleagues and customers from almost anywhere – is transforming the workplace and workforce in these remote mountain villages known more for vacations than vocations. Steamboat’s newest and largest office building, which celebrated its groundbreaking last week, illustrates this expanding live/work culture in once isolated, rural and mostly recreational environments.
Recommended Reading:
Herbalife Ltd. (HLF): Two Men Charged With Insider Trading By SEC
Tiffany & Co. (TIF): Stephen Mandel Ups Stake To 6.85M Shares
