Goldman Sachs Principal Funding & Investments (PFI)

RudeOil's picture
Rank: Senior Chimp | 25

Does anyone have any info on this group? Has anyone interviewed with them?

Apparently the former group head ran the structured credit prop desk at Merrill; now running his own hedge fund (Prosiris Capital).

http://www.bloomberg.com/news/2011-05-25/ex-goldma...
http://www.efinancialnews.com/story/2011-05-26/inv...
Have done a search but can only find discussions about SSG, GSPS/GSIP etc. How profitable are these guys compared to the other Securities Investing groups?

Comments (39)

Feb 13, 2012

sent you a pm.

Feb 23, 2013

Hi
Can you give me some advice and knowledge on how this desk works please?

Apr 21, 2013
akybaky:

sent you a pm.

Hi mate,

I was just wondering if you could PM me aswell about the PFI division.

Thank you

Jan 1, 2015

Akybaky,
Would you be able to PM me as well?

Many thanks

Jan 10, 2015

Hi akybaky, I would also appreciate a pm with some further info regarding the PFI division.
many thanks

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Dec 12, 2016

Hi akybaky,

Hope you're doing well! Could you PM me any information about the PFI desk and the interview process?
Thank you so much. xx

Feb 13, 2012

Much appreciated

Dec 12, 2016

Interviewed with them years ago for internships. Yes GS sometime hand selects some guys out of the general S&T pool to interview with these desks. I cant exactly remember what htey do, but brush up on your credit technicals.

Feb 15, 2012

PFI is a desk that provides funding to external counterparties. Happy to discuss further if you want, just PM me.

Best Response
Dec 12, 2016

Don't know much about group strategy but I can confirm they are very much active. Run out of NY with partners based in london & HK. Supposedly most profitable group at GS. In 2008, they got AIG to insure the full value of low risk MBS they bought from ML at discounted prices. Made a killing when the crisis hit. I'm under the impression they still run very simillary to they ran pre-crisis of course in line with regulations.

    • 3
Dec 12, 2016

Thanks BBB! any one else knows anything about this? thanks!

Dec 12, 2016

Hey guys, thanks for the info above. I have an interview with this group and would be very grateful if someone could pm me or provide some more information here. Thank you

Dec 10, 2017

hey man could you give me more info on it.

Feb 22, 2012

Does anyone know who runs the team out of London?

Mar 20, 2012

Principal funding & investment is a VERY profitable group at GS. The group was behind some of the biggest proprietary positions that made GS a fortune in 2008 through the insurance swaps with AIG. They are still killing it, afaik. It's run by Ram Sundaram who was made partner in 2008.

"[Former AIG executive Alan] Frost cut many of his deals with two Goldman traders, Jonathan Egol and Ram Sundaram, who had negative views of the housing market. They had made A.I.G. a central part of some of their trading strategies."

For anyone interested I would recommend flipping through 'Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide', which talks about Ram and how he built out the desk at GS in one of the chapters.

Apr 30, 2012

London is run by Ganesh Ramani (partner) who reports to Ram

Mar 28, 2012

According to Ganesh Ramani's Linkedin profile, he is in Hong Kong...
I guess the obvious question to ask would be how hard is it to land a gig with any of the securities investing groups in London? Seeing how everything in Europe is very structured (from a recruitment standpoint), I can't imagine them running dedicated programs for ESSG, PFI, GSRG, PSI, or any other prop/principal desks. Afaik, SA's only rotate on flow desks anyways through the Securities internship.

My guess is a majority are internal hires?

    • 1
Mar 28, 2012

Not sure about London but in NYC there are two different programs for SA's:

The Securities Rotational Program in which SA's rotate through different "flow" desks; although some people in the last few years have rotated through PFI and PSI. And,

The Securities Placed Program which typically (depending on the desk) places 0-3 SA's on one of the traditional investing desks (think SSG, GSRG, GCPI, etc.) for the entire summer.

Recruiting for each of these programs is separate and when these groups do take on SA's it's usually because they're hiring so the conversion rates are relatively pretty high. I would imagine that London has a similar process.

Feb 23, 2013

Hey guys I have an interview with the PFI desk at GS in a few days.
I did some internet searches and came across this, its pretty useful.
Can anyone link me up with some articles or any other information on PFI, and provide tips with what to expect?
Many Thanks!

Feb 24, 2013

How do you guys know so much about PFI???

Apr 22, 2013

Can anyone comment on how this division operates? From my understanding it is predominately longer term, more 'structured' positions within the credit markets.

Apr 23, 2013

Bump

May 17, 2013

Interested in this. Received a call from a headhunter with regards to an analyst position at GS PFI. Couldn't find much info on it.Would be great if some of the experienced folks could give some insight into this.

Thanks!!

P.S : I am a European Sovereign Government bonds trader .

Nov 23, 2014

Would like to have info in this! Could someone send me pm as per above?

Dec 13, 2014

I know this is a super old Forum Topic, but does anyone have any further info on this group? There isn't really anything on these guys out there. Very curious to what they do exactly.

Jan 12, 2015

Hi, I would also be very grateful if someone could send me some info on PFI! Cheers

Jan 12, 2015

Hi, I would also be very grateful if someone could send me some info on PFI! Cheers

Feb 15, 2015

Hey guys I have an interview coming up with this PFI desk strats. I would also be very grateful if someone could send me some info on them.

    • 1
Apr 23, 2015

Hey guys, I also have an interview with GS PFI and just came across this page. Would be very grateful if someone could pm me or provide some more information here. Thank you.

    • 1
Dec 19, 2016

Hey everyone,

I have an interview upcoming with this group and I would be very appreciative if anyone could provide some information.

Thanks

Dec 10, 2017

hey man , this is super late but can you give me more info if you could. thanks

Dec 29, 2017

interested as well

Jun 30, 2018

Anyone got anymore detailed info on this group?

Jul 13, 2018

I know a good amount about the SA program (know people who have rotated)'

Heard a lot about the prestige and have just been browsing WSO.

Apr 18, 2019

Hi, any luck ? Would love to find out about this too. Thanks!

Jun 17, 2019
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Jun 26, 2019
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