Assets under management for the company’s Private Credit & Equity platform are USD 40 billion.
A private equity fund with a target investment range of USD 750 million to USD 2 billion was completed, according to a statement released on Tuesday by Goldman Sachs Group Inc (N:GS). The investment banking firm’s largest transaction since 2007 is this one.
The asset management division of the Wall Street juggernaut oversees the aforementioned fund. “West Street Capital Partners VIII” is the name of the entity. The fund intends to invest USD 300 million in firms in the financial, business services, healthcare, consumer, technology, and climate change transition sectors in order to acquire controlling shares in such businesses.
Private equity (PE) accounts for USD 176 billion of the USD 2.5 trillion in assets managed by Goldman Sachs Asset Management (GSAM). The money managers at Goldman Sachs are not the only ones generating PE funds, though.
About USD 35 billion of BlackRock Inc.’s (NYSE:BLK) capital is allocated to PE strategies. It raised $3 billion last year to invest in PE secondary market transactions. According to reports, Morgan Stanley (NYSE:MS) Investment Management has closed a number of private equity funds this year, totaling more than USD 3.25 billion in assets under management.
40 billion dollars in assets are being managed by the company’s Private Credit & Equity platform, including 25 billion dollars in direct, secondary, and co-investment private equity funds. Pension funds, sovereign wealth funds, financial institutions, family offices, and high-net-worth individuals are among the investors in Goldman’s most recent endeavor.
The firms supported by the fund include the US-based clinical research organization Parexel, the Netherlands-based pharmaceutical company Norgine, and the Japan-based Nippo Corp.
