Bloomberg – Goldman Sachs Group Inc. (GS), the fifth- biggest U.S. bank by assets, redeemed about $250 million from hedge funds during the first quarter as it begins to comply with rules requiring banks to reduce such investments.
The firm can “generally” redeem as much as 25 percent of its holdings in hedge funds at any quarter-end with 91 days’ notice, New York-based Goldman Sachs said in a quarterly filing today. The company had $3.06 billion in hedge-fund stakes at the end of March, according to the filing, which didn’t say which fund investments were pulled during the quarter.
