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More on Goldmans Toronto hedge-fund office

Date: Tuesday, July 8, 2008
Author: Boyd Erman, Theglobeandmail.com

Friday, the Ontario government put out a release announcing that the government is "thrilled' to welcome to Toronto a new arm of Goldman Sachs Administration Services, the part of Goldman Sachs Group Inc. that helps hedge funds with back offices. But from Goldman, aside from a quote in therelease, there wasn'tmuch more info on what fund managers can expect.

A new week brings a little more detail: The office will be a small addition to a roughly 160-person division of GS that will provide such services as portfolio analytics and accounting. The division already has offices intheCayman Islands, Dublin, Hong Kong, Jersey City and Princeton, N.J., and theword is Goldman wanted to add capacity and liked Toronto's skilledwork force.

On top of that the city is an easy hop from the New York-Tristate area where the bulk of the hedge-fund world is located.