What's the difference between Asset Management/Alternative Investments and Private Equity?
Was looking at the Goldman's website and was wondering what's the difference between:
1) PEG - part of the "Alternative Investments' division within Asset Management which 'co-invests' in private equity
2)The actual Merchant Banking/Private Equity division?
Also noticed that other banks e.g. Citigroup have a separate private equity arm and an alternative investments division in their asset management business.
Alternative investments: http://www2.goldmansachs.com/careers/inside_goldm…
business_snapshot/investment_management/asset_management/
articles/asset_management_030926121019.html
Private Equity:
http://www2.goldmansachs.com/careers/inside_goldm…
business_snapshot/merchant_banking/index.html