Goldman fund-of-hedge funds July returns down

Thu Sep 4, 2008 5:50pm EDT
 
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NEW YORK, Sept 4 (Reuters) - Goldman Sachs Hedge Fund Partners LLC, an investment fund comprised by five other hedge funds, fell in value by 2.6 percent in July, according to a Securities and Exchange Commission filing on Thursday.

The fund-of-funds also disclosed that earlier this week it completed a private placement of Class A units to several qualified investors, raising proceeds of $8.96 million. The investors were not identified.

The fund's July performance reflected negative returns in four out of its five funds: Global Tactical Trading, Global Equity Long/Short, Global Relative Value and Global Fundamental Strategies.

The only positive performance was generated by Goldman Sachs HFP Opportunistic Fund, which had net returns of 2.4 percent, according to the filing.

A Goldman spokeswoman said the firm does not comment on filings. (Reporting by Joseph A. Giannone; Editing by Andre Grenon)

 
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