Goldman generates $7bn for hedge fund

``Goldman Sachs raised $7bn for its latest hedge fund, making GS Investment Partners the largest fund launch ever and securing the US investment bank's reputation as a powerhouse in the hedge fund industry... The fund plans to invest mainly in shares with a US focus. It will also have allocations to special situations, credit, convertibles and other strategies, while an illustrative portfolio shown to potential investors had 10 per cent in illiquid investments and private equity.'' -- Dunno. We'd be more interested in the "bombed out mortgage and housing market" fund right about now. This $7B seems like a probable roach motel for greater fools, going into a bear market in equities.