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Goldman CEO says raises $1.8 billion debt fund

NEW YORK
Tue Nov 13, 2007 10:26am EST

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NEW YORK (Reuters) - Goldman Sachs (GS.N) CEO Lloyd Blankfein said on Tuesday that the investment bank has raised a $1.8 billion fund targeting debt assets.

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The fund, known as GS Liquidity Partners, is expected to invest in leveraged loans and other debt stuck on banks' balance sheets from the credit crunch.

Blankfein said at the Merrill Lynch Banking & Financial Services Conference that no single business or trading desk drove third-quarter results. He also said it plans to open an office in Tel Aviv soon.

(Reporting by Joseph Giannone, writing by Michael Flaherty, editing by Gerald E. McCormick)
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