(Bloomberg News) Goldman Sachs Group Inc. is in talks with a Credit Suisse Group AG unit to sell its Petershill fund that buys stakes in hedge funds, according to two people familiar with the matter.
The negotiations with New York-based Asset Management Finance LLC haven't yet led to an agreement and the talks may still fall apart, said the people who asked not to be identified because the information is private.
Brian Finn, chief executive officer of Asset Management Finance, didn't immediately return calls seeking comment on the talks, which were reported by the New York Times yesterday.
Petershill was started in 2007 and bought stakes of between 8 percent and 9 percent in hedge funds, including Winton Capital Management Ltd. and Capula Investment Management LLP in London. The Goldman fund, which was previously run by Jonathan Sorrell, also invested in Level Global Investors LP, which liquidated after being raided by the FBI in 2010, and Shumway Capital Partners LLC, which closed last year.