Ads
December 19, 2006
Amaranth to Goldman Sachs
-- By Pushpa Sathish, Staff Writer
Amaranth may have bitten the dust after biting off more than it could chew in bad energy calls, but its staff is still being sought after by some of the biggest names in the hedge fund industry. Recent reports claim that Goldman Sachs has roped in 17 of the former hedge fund’s traders to help the company expand its investments in debt markets.
While no formal announcement has been made by Goldman Sachs, sources said that the 14 credit specialists hired from New York and the 3 from Singapore had already started work in New York. Following Amaranth’s collapse, the fund’s top management had offered to help its staff find suitable alternative employment opportunities even while asking rivals to put a hold on recruiting its staff while it gained some control and consolidated its assets to pay back investors.
Goldman Sachs, the world’s largest securities firm, manages the $10 billion Global Alpha Fund that uses computer-driven models to make investment decisions. It fell 11.6 percent in November after wrong bets that the dollar would rise, equities in Japan would rise, and that stocks in Asia and the US would fall.
--
Did you enjoy this post?
Comments
Post a comment
« $ 150 million raised by New Star Asset Management for a London listed daily tradable security | Main | Mittal Extends Stake in RAB Capital »
Syndicate
Comments