Goldman Sachs is trying to work around a financial reform
regulation to keep investing in the profitable, albeit risky, business of buying
and selling companies, sources familiar with the new business told Reuters’
Jessica Toonke; and Lauren Tara LaCapra.
The Volcker rule - named for former Federal Reserve Chairman
Paul Volcker and part of the Dodd-Frank financial reform law - is expected to
limit bank investments in private equity funds, but not necessarily private
equity-style investments outside of a formal fund structure.
In a bid to pool money for deals without raising a private
equity fund, the Wall Street bank has been lining up clients who are willing to
put money into accounts set up to invest in private equity-style deals, the
sources said. Goldman would also set aside some of its own money and partner
capital into separate accounts for the same purpose, they said….
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