LPs - how and why
on the website of HIG Capital, one of the bigger PE funds, they list a bunch of their investors ("Our investors include some of the world's leading investment banks, financial institutions, pension funds and endowments.")
On that list are a couple usual suspects ... university endowments, teachers pension funds. But why would Goldman Sachs be interested in being a passive contributor to someone else's PE fund? Or Wachovia Corp?
http://www.higprivateequity.com/Investors.php?id=…
Allianz AG
GE Capital
Goldman Sachs
Liberty Mutual
Massachusetts Institute of Technology
Rho Capital Partners, LLC
Teachers Insurance and Annuity Association (TIAA)
Wachovia Corp.
Wilshire Associates
Yale University
They probably mean via Goldman Sachs Asset Management, they have a HF strategies team, which is a Fund of Hedge Funds.
Perhaps with Volcker Rule, we'll see banks spreading their dough across more outside PE funds? They're capped at 3% of a fund's capital under the rule, with SBICs being an exemption.
They make money for people man
They make money for people man
Many HFs get seeding from banks
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