Goldman Sachs stands to earn money from multiple sources over the life of its $375m investment in Facebook thanks to an artfully structured deal designed to meet new rules but likely to reignite controversy over the way banks invest their own funds.
Goldman’s deal highlights how banks are searching for high-return deals as tough regulations and uncertain markets deprive them of many of the lucrative trading products of the pre-crisis boom.
However, Goldman’s purchase of a stake of less than 1 per cent in privately-held Facebook will come into focus this month as US regulators decide how to implement the “Volcker rule” aimed at curbing banks’ investments with their own funds.
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