Fund-Technology.com

Goldman Sachs domiciles hedge funds in Toronto

Posted: 19 August 2008

The Goldman Sachs Group has chosen Toronto to grow and diversify its hedge fund administration business.

Goldman Sachs has opened its newest Goldman Sachs Administration Services (GSAS) office in Toronto with Fund Accounting and Investor Servicing areas of its hedge fund administration operations.

Ranked in the top five worldwide among hedge fund administrators for single manager hedge funds, GSAS' assets under administration total approximately $225 billion. Goldman Sachs was also ranked as the number one Overall Fund Administrator in Institutional Investors' Alpha Awards in 2006 and 2007.

GSAS will begin operations with a full staff complement and intends to grow its business and Ontario personnel over the next five years. The move validates Toronto's reputation as a global hub for the financial industry, thanks to its stable business environment, supportive regulatory framework and favourable conditions for growth.

 

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