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Less than one year after retiring from Goldman Sachs, three of the firm's limited partners are holding preliminary discussions with investors about a new investment fund for high-yield and distressed securities.
The new firm, Global Capital Growth, includes two former heads of Goldman's high-yield business, David DeLucia and Daniel Sullivan, according to sources. Moses Tsang, a Goldman fixed-income veteran and former head of the firm's Hong Kong office, is also said to be working on the fund.
The firm appears to still be in the development stage; the current plans could change significantly or even be pulled completely, said a source familiar with the plans. But if the Goldman veterans go ahead with their fundraising plans, the trio--key players for many years in Goldman's global fixed-income business--could become...