- Goldman Sachs Asset Management closed a $5.2 billion direct private markets fund.
- Institutional and high-net-worth investors contributed $3.7 billion.
- The fund aims to invest with an enterprise value of between $750 million and $2 billion.
Investing in high-growth companies, a $5.2 billion direct private markets fund was closed, according to Goldman Sachs Asset Management on Tuesday.
The fund, one of the biggest growth funds of its kind, seeks to acquire minority holdings in companies that are in the early or medium phases of their growth with an average investment size of roughly $50 million.
Institutional and high-net-worth investors contributed $3.7 billion to the West Street Global Growth Partners fund, and Goldman Sachs Group Inc. and its employees also pledged money.
Over $2 trillion in assets are under the management of Goldman Sachs Asset Management.
A $9.7 billion private equity fund was closed last year, making it the largest one since 2007. This fund aims to invest in businesses with an enterprise value of between $750 million and $2 billion.
The company’s growth equity business division, which is run by Darren Cohen in New York, Nishi Somaiya in London, and Stephanie Hui in Hong Kong, is in charge of managing the most recent fund.
According to Julian Salisbury, chief investment officer for Goldman’s asset and wealth management division, “We believe the pace of innovation across enterprise technology, financial technology, healthcare, and consumer businesses shows no sign of abating.”
The fund has already invested in a number of businesses, including the American company 4G Clinical which develops technologies for the pharmaceutical and biotech industries, the American market intelligence platform AlphaSense, and the French company Exotec which manufactures warehouse robot systems.
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