October 23, 2007 / 2:22 AM / 11 years ago

Goldman looks to raise new $500 mln fund-WSJ

NEW YORK, Oct 8 (Reuters) - Goldman Sachs Group Inc (GS.N) is looking to raise more than $500 million to create a private equity fund that will buy stakes in hedge funds, the Wall Street Journal reported, citing a source.

The new London-based fund will be headed by Jonathan Sorrell, son of Martin Sorrell, the head of advertising giant WPP Group Plc (WPP.L), the paper said.

It will raise a mix of Goldman’s own cash and cash from outside investors for the fund, the WSJ reported.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below