Private Equity: Goldman Sachs to Launch $8 Billion Buyout Fund

https://dailyalts.com/wp-content/uploads/2019/09/53e8d74a4a5bb114a6d98074cf213576083edbe35a58774a762779_640.jpg

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

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”
Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/02/52e4dc4a4854ae14ea898579ce203e7c1d22dfe05b53794a732973d6_640.jpg
ESG: Graham Clapp Says ESG-Focus is Creating a New Bubble
February 27, 2020     ESG and Sustainability, News

RWC Partners fund manager Graham Clapp warned that sustainable investing trends are poised to form a possible bubble in the markets. He compared it to the tech boom of the 1990s….

https://dailyalts.com/wp-content/uploads/2019/11/Warren_Buffett_in_2010.jpg
Hedge Fund: Whitney Tilson Pumps Berkshire Hathaway as Top Retirement Stock
February 27, 2020     Hedge Funds, News

Former hedge fund manager Whitney Tilson has called Berkshire Hathaway (NYSE: BRK.A) the to retirement stock. Tilson, who now writes for Empire Financial Research, issued a note this week praising…

https://dailyalts.com/wp-content/uploads/2020/02/money-1084517_640-invesco-etf.jpg
Liquid Alternatives: Invesco Launches New Sterling Corporate Bond ETF With ESG

Invesco, the fund manager with $1.23 trillion in assets under management as of December 31, 2019, has launched in Europe a new, first-of-its-kind, sterling-denominated, corporate bond ETF with an ESG…

https://dailyalts.com/wp-content/uploads/2020/02/cryptocurrency-3423267_640-six-ieomx.jpg
Digital Assets: The SIX Swiss Exchange Buys A Stake in Crypto Trading Platform Omniex
February 27, 2020     Digital Assets, News

SIX Swiss Exchange announced it had struck a partnership agreement last week with San Francisco-based Omniex. The financial terms of the agreement, which also includes the acquisition of a stake…

Scroll to Top