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August 14, 2007

Goldman's "Don't Pay a Quant a Cent" Event

Interesting seeing what it took for Goldman to rope investors into rescuing investing in its struggling Global Equity Opportunities Fund. Three billion went into the fund, including two-billion from Goldman itself.

But the terms on the other billion are these: No 2% management fee, and no incentive fee until the fund is up 10%.

Remarkable stuff.

[via Bloomberg]

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