Goldman Sachs Asset Management Launches Onshore Funds Business in Brazil
New York, NY October 1, 2009 — Goldman Sachs Asset Management (GSAM) announced today the launch of its business in Brazil by offering a family of funds for onshore investors. As part of GSAM's global expansion strategy, GSAM Brazil has been actively hiring a team of investment professionals and building a performance track record with seed capital prior to offering its onshore funds to the market. GSAM Brazil was granted its asset management license in May 2008.
"The Goldman Sachs brand and GSAM's global expertise have been instrumental in attracting an experienced team who has quickly been able to integrate with GSAM globally and fit into our culture," said Timothy O'Neill and Marc Spilker, Co-Heads of the Investment Management Division of Goldman Sachs in New York. "We are excited to be able to offer funds onshore for local Brazilian investors."
With the business in operation for more than one year, GSAM Brazil is now ready to accept investors into its funds.
Last year, GSAM seeded three funds, Goldman Sachs Ibovespa Ativo FIC FIA, an active equity fund, Goldman Sachs Hedge Qualificado FIC FIM, a multi-strategy hedge fund, and Goldman Sachs Renda Fixa FIC FI, a fixed income fund. These funds will be distributed by Goldman Sachs do Brasil Banco Múltiplo S.A. as well as by the main third party distributors in Brazil.
Three new funds are being launched today and will be offered exclusively on Citibank's investment platform through a third party distribution agreement with GSAM Brazil. These funds are: Goldman Sachs Renda Fixa Plus FIC FI, an active fixed income fund, Goldman Sachs Multiestratégia FIC FIM, a multi-strategy hedge fund and Goldman Sachs Ibovespa Plus FIC FIA, an active equity fund. Additionally, GSAM Brazil is also launching Goldman Sachs Hedge Institutional FIC FIM, a multi-strategy hedge fund primarily offered to Brazilian institutional investors.
"Goldman Sachs has long viewed Brazil as an important market in our global footprint and this expansion into onshore fund management is a key component in building our platform and broadening our client reach here," said Valentino Carlotti, President of Goldman Sachs Brazil.
"Our brand, global reach and the opportunity to start up a business for Goldman Sachs in Brazil enabled us to attract top people in the market. We are pleased to launch GSAM in Brazil with a stellar team of seasoned professionals," says Gabriella Antici, Head and Chief Investment Officer of GSAM Brazil. She has been with GSAM for more than 12 years and has returned to Brazil to lead the business. "Our aim is to be able to offer a variety of products to suit a wide array of clients. We believe a core and differentiated product offering will provide both institutional and individual clients with the products they need to build optimal portfolios."
In addition to Ms. Antici, the equity portfolio management team is formed by Marcia Zugaib, who joined GSAM from Gávea Investimentos, Andrea Cardia, who came from Alliance Bernstein and Antonio Vieira, who previously worked at Dynamo. The fixed income and multi-strategy hedge fund team is headed by Roberto Cintra, who joined from Western Asset Management, and has the support of his former colleague, Mauricio Irie. Distribution, carried out by Goldman Sachs Banco Múltiplo S.A., is headed by Adriano Koelle, who joined from Schroders, Peterson Paz, who also came from Schroders and is responsible for institutional clients, and Isabella Nunes who joined from Alliance Bernstein and is responsible for third party distributors. Finally, Gabriela Benjamin is responsible for product management and Cynthia Svacina is responsible for product and client services.
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $819 billion as of June 26, 2009. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1989 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
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