Ex-Goldman Sachs Hedge Funds
Ex-Goldman Sachs Traders Expect to Raise $1.5 Billion
At least two other managers, Mark Carhart and Pierre-Henri Flamand, are slated to open in coming months with half a billion dollars or more each, said the people, who asked not to be named because the firms are private. Helping all three traders pull in at least 10 times more than most hedge-fund startups this year may be one line on their resumes: Goldman Sachs Group Inc.
“It’s an incredibly difficult environment,” said Emma Sugarman, head of the U.S. capital introductions group at BNP Paribas SA in New York, which helps hedge funds meet investors. “There does, however, seem to be an appetite for people who have a certain pedigree.”
The $1.6 trillion hedge-fund industry attracted a net $23.3 billion in the first half, a pace that would make 2010 the third-worst year for deposits into the private investment pools since 2001, according to Chicago-based Hedge Fund Research Inc. Most new funds are raising $30 million to $50 million, according to bankers who work with startups. Source