Goldman Sachs doesn’t appear concerned about coronavirus or the slowing global economy.

West Street Capital Partners – the private equity arm of Goldman Sachs (NYSE: GS) – will start fundraising next week. The PE shop is part of Goldman’s ambitious effort to raise $8 billion for a second buyout fund. Reuters reports this would be the second buyout fund for the bank since 2008.

However, news broke this morning that Sumit Rajpal, the co-head of the firm’s private equity business – departed the company. Rajpal was a Goldman partner and played a key role in the development of the firm’s Marcus brand.

West Street Capital Partners Will Be Aggressive

The private equity group plans a quick first close. The fund aims to close by the end of the first quarter – or March. That would allow it to immediately start deploying capital.  The new fund plans to focus on deals where it can secure majority control of an organization. The report indicates that Goldman’s new fund would aim to make roughly 25 investments across multiple sectors. The average deal would range between $150 million and $600 million.

An $8 billion raise would be much smaller than the $20 billion fund from 2007. Preqin notes that Goldman’s private equity arm has successfully raised $47 billion since its inception. The group was renamed West Street Capital Partners in 2016 to comply with rules that prevent PE funds from bearing the parent bank’s name.

Recent: Arrowgrass Capital Partners Will Shut Down