People News: Goldman Sachs

Rajat Gupta is hoping the third time’s the charm.

The New York Post reports that the former Goldman Sachs director and McKinsey executive — who was found guilty in 2012 of passing illegal tips to hedge fund pal Raj Rajaratnam — has persuaded a federal appeals court to review his conviction on insider trading charges.

Gupta, 67, had asked Manhattan federal Judge Jed Rakoff to overturn his conviction. Rakoff denied the request in July, and the appeals court let Rakoff’s decision stand late last year.

In the meantime, Bloomberg News reports that senior Goldman Sachs leveraged-finance banker Craig Packer is joining the credit fund being formed by veteran KKR dealmaker Marc Lipschultz and ex-Blackstone Group executive Doug Ostrover, according to a person with knowledge of the matter.

Packer will work alongside founders Lipschultz and Ostrover at the new firm, known as Owl Rock Capital, where at least some executives’ titles are still being decided, said the person, who asked not to be identified because the appointment hasn’t been announced.

Court to review insider trading conviction of ex-Goldman boss

Goldman's Packer Said to Join Lipschultz, Ostrover's Credit Fund

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