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Galleon Group co-founder Raj Rajaratnam in 2006 started an investment firm along with partners including a current Goldman Sachs Group Inc. (GS) board member and a former chairman of Goldman Sach's Asia business, Bloomberg News reported Friday. Rajaratnam, now accused of insider trading, founded the firm, Taj Capital, with Rajat Gupta, former head of McKinsey & Co. and a Goldman Sachs board member, and with Mark Schwartz, former chairman of Goldman Sachs' Asia business. Rajaratnam severed ties with Taj when the firm abandoned plans to start a hedge fund, Bloomberg reported, citing an interview with another Taj co-founder, Parag Saxena. Taj has since been renamed New Silk Route NSR Partners LLC, which oversees $1.4 billion in private-equity investments, according to SEC documents. Rajaratnam has no management role or ownership in New Silk, a spokesman for that firm said.
Full story at: www.bloomberg.com/apps/news?pid=20601087&sid=aV.iW9Bj4ChM
-Dow Jones Newswires; 212-416-2900
(END) Dow Jones Newswires
10-30-09 0810ET
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