State Street To Pay $550M For Goldman Fund Management Unit

Law360, New York (July 17, 2012, 4:52 PM EDT) -- State Street Corp. will scoop up Goldman Sachs Group Inc.'s hedge fund management arm in a $550 million all-cash deal, placing the Boston financial services company among the world's top fund administrators, State Street said Tuesday.

Goldman Sachs Administration Services, which has offices in Jersey City, N.J., as well as in Canada, Europe, the Caribbean and Asia, provides asset management firm operational services, such as risk assessment and fund accounting, to 150 investment managers with $200 billion across more than 500 funds worldwide, the company said....
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