Goldman Sachs' Alpha Fund May End 07 Down $6 Billion
Today, Bloomberg reported that Goldman Sachs (NYSE: GS) Global Alpha hedge fund may lose about $6 billion in assets this year, a 60% decline, because of trades that went the wrong way on Goldman and client withdrawals, according to two investors.
Global Alpha entered 2007 with more than $10 billion, lost 37% on investments through Nov. 14, most of it in August, said the Goldman clients, who asked not to be identified because the fund's performance is private.
Goldman Sachs has about $2 billion in fourth-quarter redemption notices, on top of withdrawals through the year.
Goldman Sachs declined to comment.
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