Newspaper wrap-up: Goldman Sachs to back $2B private equity fund
Posted Jan 9th 2008 8:05AM by Eric Buscemi
Filed under: Newspapers, Magazines, General Motors (GM), Berkshire Hathaway (BRK.A), Goldman Sachs Group (GS)
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MAJOR PAPERS:
- The Goldman Sachs Group Inc (NYSE: GS) plans to back a $2B private equity fund set up by Fang Fenglei, its Chinese partner, sources said. The Wall Street Journal reported Goldman will invest about $300M in the fund.
- Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK.A) continued setting up a new bond insurance company last month, after Berkshire was urged to enter the bond insurance market by New York government official Eric Dinallo, the Financial Times reported.
OTHER PAPERS:
- The LA Times reported that the Air Force could shrink its fleet of F-15 fighter jets, many of them up to 30 years old, because of critical structural flaws.
- According to the Detroit News, people familiar with the deal said that General Motors Corporation (NYSE: GM) agreed to settle a class-action lawsuit for about $39M. The suit was brought about by retirees and employees for claims that involved retirement funds and pension.
Tags: Air Force, AirForce, Berkshire Hathaway, BerkshireHathaway, BRK.A, Fang Fenglei, FangFenglei, General Motors, GeneralMotors, Goldman Sachs, GoldmanSachs, GS, lawsuit, private equity, PrivateEquity, Warren Buffett, WarrenBuffett
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