Goldman Sach Partners Get The Perk of No Fee Private Equity

Being a partner at Goldman Sachs has a lot of perks, and here's one more. They can now invest in private equity without paying any fees.
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Being a partner at Goldman Sachs has a lot of perks, and here's one more. They can now invest in private equity without paying any fees and receive more of a return than their salary and bonuses combined. Goldman brought back private equity firm Bridge Street. Its merchant banking division now manages the Bridge Street funds. Partners who invested in those funds were compensated well. According to a public filing, Goldman CEO Lloyd Blankfein received nearly $126 million from the private equity funds in the last five years. That's more than his salary and bonuses in that same period. A couple of other partners have also received more than $100 million in return. The 2010 Dodd-Frank Act limits the amount a bank could put into its private equity arm. However, the restriction is waived if all contributions come from the employees.