NEW YORK: Goldman Sachs Investment Partners (GSIP), which opened in 2008 with one of the biggest launches in hedge fund history, is folding its London operations into the United States and shifting staff members to New York, four sources told Reuters. A Goldman spokesman confirmed the move but not the details, adding that the reasons for the staff shift were not related to Brexit. The move was triggered by managing director Nick Advani, who led the hedge fund's London operations, the sources said. Multi-strategy hedge fund GSIP launched in November 2008 with US$7 billion in assets, one of the largest hedge fund launches at the time. Separately, Goldman may move up to 1,000 staff members out of London in response to Britain's vote to leave the European Union, it was reported last month.

Source: The Star February 09, 2017 04:18 UTC