Goldman joins rivals in setting up new Middle East-focused fund

Talks are ongoing and the fund’s final size hasn’t been decided yet. — Bloomberg

NEW YORK: Goldman Sachs Group Inc is working on raising a Middle East-focused fund and has hired a long-time JPMorgan Chase & Co banker to run it, according to people familiar with the matter.

The Wall Street bank has held talks with investors in the region about raising money for the open-ended fund, the people said, asking not to be named as the information isn’t public.