Quiz: Goldman's Year Of Negative Press Is Helping Which Three Hedge Fund Managers?

Lloyd Blankfein

Having “Goldman Sachs” on their resume has helped at least three hedge fund managers raise millions for their new hedge funds even though many asset managers are having trouble retaining investors.

In the past few months, Eric Mandleblatt’s Soroban Capital Partners LLC, Mark Carhart’s Kepos Capital and Pierre-Henri Flamand’s Edoma Capital, have each raised at least $500 million.

Their returns at their former jobs must have helped the managers raise money too, of course, but it does seem not merely coincidental that they all have raised over $500 million and they all have “Goldman Sachs” on their resume.

Until you remember what the name “Goldman Sachs” has been affiliated with all year. Betting against clients. Creating the credit crisis. SEC charges. “God’s work.” Etc.


It turns out, all of the negative press has actually been working in their and Goldman’s favour – because while receiving negative press, Goldman Sachs was also making tons of money, so the press had to mention that in there somewhere.

So to answer to our question, who is Goldman’s bad PR actually helping?

Everyone with Goldman Sachs on their resume.

But the real winners are former Goldman guys who leave Goldman and go on to do other things, like start hedge funds. Because in the hedge fund managers’ cases, just having “Goldman Sachs” on their resume during the year when Goldman pissed off the world because they were making so much more money than everyone else will probably help former Goldmanites raise more than their competitors.

And in everyone else’s case, it will probably help them get hired faster and get paid more, because now everyone knows everything about Goldman, including how hard it is to get a job there.

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