Goldman Sachs Raises $11.7 Billion for Private Equity

Goldman Sachs recently secured $11.7 billion in new capital for its private equity strategies. The majority, $9.6 billion, was allocated to West Street Capital Partners IX, the ninth iteration of the firm's primary buyout strategy. An additional $1.6 billion was raised for West Street Asia Equity Partners I, with co-investment vehicles contributing $500 million.

This fundraising effort aligns with Goldman Sachs' broader objective to build a more substantial and stable asset-management division. The firm reported $459 billion in alternative investment assets under supervision as of the end of the second quarter. Gross third-party alternatives fundraising reached a record $59 billion in fiscal Q2.

Michael Bruun, global co-head of private equity at Goldman Sachs Alternatives, indicated that over a third of the flagship fund has already been deployed in investments such as Schellman, Numantec, and Excel Sports Management. The firm anticipates deploying the remaining capital over the next four to four-and-a-half years, progressing towards its long-term target of $750 billion in fee-paying alternative assets by the close of 2030.