Goldman Sachs May Sell Hedge Fund Unit to State Street

Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, is in talks to sell its hedge-fund administration unit to State Street Corp., according to a person with knowledge of the matter.

A final agreement is yet to be reached, said the person, who declined to be identified because the negotiations are private. The unit provides fund accounting, valuation and risk-management for hedge funds.