{"id":3297,"date":"2022-10-10T16:32:23","date_gmt":"2022-10-10T14:32:23","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=3297"},"modified":"2022-10-10T16:40:29","modified_gmt":"2022-10-10T14:40:29","slug":"goldman-sachs-closes-9-7-bln-private-equity-fund-largest-since-2007","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2022\/10\/10\/goldman-sachs-closes-9-7-bln-private-equity-fund-largest-since-2007\/","title":{"rendered":"Goldman Sachs closes $9.7 bln private-equity fund, largest since 2007"},"content":{"rendered":"
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The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS\/Brendan McDermid\/File Photo\/File Photo<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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NEW YORK, Sept 27 (Reuters) – Goldman Sachs Group Inc\u00a0has closed a $9.7 billion private-equity fund, its largest since 2007, that seeks to invest in companies with an enterprise value of about $750 million to $2 billion, the bank said on Tuesday.<\/p>

The fund sits under the Wall Street giant’s asset management arm and is known as “West Street Capital Partners VIII.” It plans to invest an average of $300 million to take controlling stakes in companies in the financial and business services sectors, as well as healthcare, consumer, technology and climate change transition.<\/p>

“This fundraise builds on our 30-year history in private equity as we continue to scale the business and make our alternatives offerings available to a wider range of investors,” Julian Salisbury, global co-head of Goldman Sachs Asset Management, said in a statement. GSAM, as the business is known, oversees $2.5 trillion in assets, with private equity (PE) accounting for $176 billion.<\/p>

Goldman’s money managers are not alone in raising PE funds. BlackRock Inc\u00a0(BLK.N)<\/a>\u00a0has about $35 billion focused on PE strategies, and last year alone, it raised $3 billion to invest in PE secondary market deals.<\/p>

Morgan Stanley Investment Management has also closed several private equity funds this year with assets under management in excess of $3.25 billion, a spokesperson said.<\/p>

The firm’s Private Credit & Equity platform has $40 billion in assets under management, including $25 billion in direct, secondaries and co-investment private equity funds.<\/p>

Investors in Goldman’s latest venture include pension funds, sovereign wealth funds, financial institutions, family offices and high-net-worth individuals. The bank, as well as some of its employees, also invested.<\/p>

The fund has already backed Norgine, a European pharmaceutical company; Nippo Corp, a road pavement company in Japan; and Parexel, a clinical research organization, among others.<\/p>

“The fund is well positioned for the market environment and we see opportunities across multiple sectors and geographies,” Salisbury said.<\/p>

New risks such as inflation, rising interest rates, geopolitical turmoil and increased government scrutiny have contributed to the surge in market volatility and a slowdown in private equity deals in 2022, PwC said in a recent report.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Source : reuters.com<\/a><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

NEW YORK, Sept 27 (Reuters) – Goldman Sachs Group Inc has closed a $9.7 billion private-equity fund, its largest since 2007, that seeks to invest in companies with an enterprise value of about $750 million to $2 billion, the bank said on Tuesday.<\/p>","protected":false},"author":1,"featured_media":3306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Goldman Sachs closes $9.7 bln private-equity fund, largest since 2007<\/a><\/blockquote>