Goldman said raised $1.3bn to invest in hedge funds

Oliver Twist

Goldman Sachs has raised $1.3bn for its second Petershill fund that buys stakes in hedge fund firms, beating its initial target, according to a person with knowledge of the matter.

Bloomberg News reports that the bank started raising money for Petershill II in 2013, initially aiming to raise $1bn, said the person, who asked not to be identified because the information is private. 

Petershill II will buy 10% to 20% equity stakes in hedge fund firms with assets of $2bn to $15bn, Goldman Sachs said last year. It has so far purchased interests in credit manager Knighthead Capital Management, macro hedge fund Caxton Associates and Pelham Capital Management, a long-short equity firm.

To access the complete Bloomberg News article hit the link below:

Goldman Said to Raise $1.3 Billion to Buy Stakes in Hedge Funds

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