Goldman Sachs Asset Management has raised $507 million for a new London Stock Exchange listed fund of hedge funds vehicle, Goldman Sachs Dyn...

Goldman Sachs Asset Management has raised $507 million for a new London Stock Exchange listed fund of hedge funds vehicle, Goldman Sachs Dynamic Opportunities, ahead of the proposed first day of dealings on Thursday. Listing gives Goldmans the opportunity to reach directly the high net worth market. The fund of funds will be run by Goldman Sachs' New York-based hedge fund strategies group, which manages $15 billion and accounts for around 20 per cent of GSAM’s alternative assets business. The listing will be the largest IPO of a fund of hedge funds in London. The fund will invest in between 15 and 20 hedge funds although it is unlikely to invest in the group's internal funds according to analysts. It will have no more than 50 per cent of assets invested in any one strategy.