Sridhar Natarajan

Bill Hwang's doomed family office is on trial, but it's Wall Street that looks terrible.

Bill Hwang’s doomed family office is on trial, but it’s Wall Street that looks terrible.

(Bloomberg) -- A long era of easy profits in private equity is gone, and Goldman Sachs Group Inc. is digging in deeper for the harder work ahead.

Nascent strategy would have firms deal with their clients, while market-maker handles the behind-the-scenes mechanics

Sung Kook “Bill” Hwang maintained a low profile on Wall Street as he managed his own wealth through his “family office,” known as Archegos Capital Management. But then Archegos suddenly melted down in March 2021, making headlines and all but erasing Hwang’s $36 billion fortune. The collapse also cost the firm’s lenders $10 billion, contributing to the downfall of Credit Suisse Group AG.

Nascent strategy would have firms deal with their clients, while market-maker handles the behind-the-scenes mechanics

Goldman Sachs Group Inc. 's trading unit powered a surge in earnings in the second quarter.

Goldman Sachs Group Inc.’s trading unit powered a surge in earnings in the second quarter.

Deal could be valued at roughly $800 million after earnouts Atalaya had previously sold a minority stake to Blue Owl unit

Morgan Stanley 's traders joined the party across Wall Street in the second quarter, posting gains from a year earlier that beat expectations, even as the firm's larger wealth business fell short of estimates.