Goldman Sachs raises $5.5 billion for pension and endowment asset purchases

April 13, 2009 by · Leave a Comment
Filed under: Industry News 

Please bring your attention to the FACT that they will be purchasing assets from pensions and endowments with this $5.5 billion dollars.  I would like to know if all the money came from private investors or company funds.  First off, Goldman Sachs did take TARP bailout money so it makes me wonder if this is a hidden bailout for the pensions and endowments that were either steered or willing invested in pretty shady financial vehicles.  

Or, is this what is to come, with the U.S. taxpayer bailing out all these banks, now they have this huge advantage by getting fresh cash from the Fed & Treasury because asset prices are so depressed.  I would like to know more about what assets these funds are offloading.  Something does not smell right here.

News (Bloomberg):

Goldman Sachs Group Inc. raised a fund with about $5.5 billion in capital commitments to buy private-equity assets on the secondary market from endowments and pensions that have been stung by losses.

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