Talking up Goldman

August 31, 2010   Lawrence Delevingne

Despite Goldman Sachs' run-in with the Securities & Exchange Commission, its fund-of-funds unit continues to grow.

By Lawrence Delevingne

Photographs by Mark Hartman

Goldman Sachs Asset Management is doing fine, thank you very much.

Despite bad press for the bank generally and a backlash by many investors against the fund-of-funds model, clients are continuing to put money into Goldman's fund-of-funds unit within the $65 billion alternatives group of GSAM. Executives say the unit has consistently grown its business since the financial crisis and through its public relations debacle stemming from Securities and Exchange Commission allegations of misleading clients, which have since been settled.

Since early 2009 Goldman's fund-of-funds assets have increased roughly 13% to around $21 billion as of July, leading Chris Kojima, co-head of the firm's alternative investments and manager selection unit as well as its global portfolio solutions one, to say that its team is the "largest, deepest and strongest" in its long history, with more than 100 professionals, 40 of them on investment...


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