Bloomberg News

Goldman’s Yoon Said to Step Down as Unit’s Private-Equity Chief

March 27, 2012

Gene Yoon, a managing director at Goldman Sachs Group Inc. (GS:US) and head of private-capital investing in the Americas Special Situations Group, stepped down, according to a person briefed on the departure.

Yoon’s duties will be split among colleagues in the unit, the person said, declining to be named because the departure wasn’t made public. Fortune magazine said today that Yoon will manage a $500 million private-equity fund starting in May.

The Special Situations Group, a business that invests the firm’s own money and makes some loans, is led by Hong Kong-based Jason Brown and reports results as part of Goldman Sachs’s Investing and Lending division. Revenue from that division dropped 72 percent to $2.14 billion in 2011.

Yoon, 37, joined Goldman Sachs in 2007, after working at Boston-based private-equity firm Great Hill Partners, according to his LinkedIn profile. He attended the University of Pennsylvania’s Wharton School for his master’s degree in business administration, according to the profile.

Yoon didn’t return a call to his home number for comment. Michael DuVally, a spokesman for New York-based Goldman Sachs, said he couldn’t comment on personnel moves.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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