Goldman Stock Picking Fund Down 6% For January

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Goldman Sachs’ latest hedge fund, which was the largest launch in the history of the industry, had a rough first month. The fund is down 6% for January, according to a source familiar with the results.
Goldman Sachs Investment Partners fund recently raised $7 billion, according to a report in the Financial Times. The figure was substantially lower than the rumored $10 billion that had been whispered about in December but higher than the target of between $4 billion and $6 billion. Unlike Goldman’s quant driven offerings, GSIP is a stock-picking hedge fund—the first of its kind at Goldman. It is run by former global proprietary trading chief Raanan Agus and former U.S. prop trading head Kenneth Eberts.
January was reportedly a rough month for many hedge funds of all variety of investment strategies.
We totally forgot to ask Goldman Sachs about this when we were badgering them about the now debunked layoff rumors earlier today.

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