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

by Michael J Moore, BLOOMBERG

Gene Yoon, a managing director at Goldman Sachs Group Inc. 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. It reports most results as part of Goldman Sachs’s Investing and Lending segment, where revenue dropped 72 percent to $2.14 billion in 2011.

At least four credit traders have left for hedge funds since November and commodity traders including Taimur Hassan have departed in the past four months. Compensation fell 21 percent last year as revenue dropped 26 percent and the firm’s share price plunged 46 percent. The shares are up 41 percent this year.

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.

He 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.

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