Goldman Sachs's asset management division closed its Global Equity Opportunities Fund at the end of December 2009, according to a person familiar with the situation reported by the Financial Times.

It is believed that GEO, once the manager of more than $7 billion, lost close to $1.5 billion in the first two weeks of August 2007 and that the bank stepped in with a $3 biliion bailout, although it had no obligation to do so.

The newspaper reports that in a conference call at the time the bank’s chief financial officer David Viniar denied that the rescue was a bailout.

As reported elsewhere by this publication today, Goldman Sachs reported fourth-quarter results, including an announcement that it was limiting bonus payments to staff.