GSAM shuts London hedge fund operations

Goldman Sachs Asset Management is folding its London hedge fund operations.

Goldman Sachs Investment Partners, which sits within the bank’s asset management division, has told around eight staff members who make up the London team to move to the New York headquarters or find another role internally, Reuters reports.

A spokesperson says the staff shift was not related to Brexit.

The multi-strategy head fund launched in 2008 with an impressive £7bn. It had suffered in recent years due to its focus on value and reported losses of 8.2 per cent in the year ended September.