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13 Apr 2009

Singapore's Senior Minister to Host IFSB Summit

The 6th Annual Summit of the Islamic Financial Services Board (IFSB), is being held this year in Singapore under the patronage of Singapore's Senior Minister, Goh Chok Tong, it is themed The Future of Islamic Financial Services.

The annual IFSB Summit is the flagship event for the IFSB, and has traditionally attracted a select group of high-profile Islamic financial services industry stakeholders from across the globe. IFSB Secretary-General, Rifaat Ahmed Abdel Karim said "This 6th Summit is the first IFSB Summit to actually be held in East Asia."

26 regulators and senior personalities from international organisations, including the US, UK, EU, as well as the MENA and Asian regions, have confirmed chairing and speaking in the Summit.

The main objective of the Summit is to underline the role of the various stakeholders towards developing a robust future for Islamic financial services industry. It will be held on 7th – 8th May 2009.

Goldman Sachs Raise $5.5 Billion For Private Equity Fund

Goldman Sachs Asset Management announced today that it has raised its fifth dedicated private equity secondaries fund, GS Vintage Fund V, with approximately $5.5 billion in capital commitments.

GS Vintage Fund V will focus primarily on acquiring portfolios of private equity assets, including limited partnership interests in private equity funds, as well as providing unique liquidity and capital solutions to both limited partners and general partners around the world.

The GS Vintage Funds evaluate opportunities ranging from $1 million to over $1 billion in size, across all private equity strategies and geographies. As one of the largest investors in the secondary market for private equity, the GS Vintage Funds draw on Goldman Sachs' global sourcing network, due diligence capabilities, risk management expertise, and extensive private equity relationships.

GS Vintage Fund V is the latest fund raised by the Alternative Investments & Manager Selection (AIMS) Group of Goldman Sachs Asset Management. With more than 200 professionals worldwide, the AIMS Group provides investors diversified and customized portfolio solutions, across traditional long-only managers, hedge funds, and private equity funds around the world. To date, the private equity strategies of the AIMS Group represent more than $32 billion of capital commitments across private equity fund-of-funds, secondary market funds and co-investment vehicles.

Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $779 billion as of November 28, 2008. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1989 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.