Goldman Sachs Said to Back Former Barclays Trader’s Hedge Fund
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Goldman Sachs Group Inc. plans to provide funding for a hedge fund being started by Todd Edgar, a former commodities trader at Barclays Plc, said two people with knowledge of the preparations.
Goldman Sachs will make an investment through a so-called seeding fund that the New York-based firm started this year after raising money for it from pension funds and wealthy individuals, the person said. Edgar will get $150 million to $200 million from Goldman Sachs in return for a cut of the fees his hedge fund generates, said the people who declined to be identified because the negotiations are private.