Goldman Sachs International plans to launch a new fund of hedge funds. The GS Global Market Independent Partners fund will seek returns of 10% to 12% over three to five years. The fund is expected to invest in 15 to 20 hedge funds across a variety of strategies that aim for market-neutral returns and will also include arbitrage managers. The minimum investment is $1m with a sliding management fee of 1% for investments up to $5m, 0.8% for $5m to $25m, and 0.6% for investments over $25m.
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