Goldman Sachs Asset Management announced on Tuesday that its alternatives division has secured $11.7B through its latest private equity funds and associated vehicles.
This fundraising effort comprises $9.6B for the flagship fund, West Street Capital Partners IX, $1.6B for its Asia-centric strategy West Street Asia Equity Partners I, and an additional $500M earmarked for related co-investment opportunities.
WSCP IX Fund
The latest iteration of Goldman Sachs Alternatives’ flagship buyout fund, WSCP IX, attracted capital from institutional and high-net-worth investors across North America, Europe and the Middle East, with notable commitments from the firm and its personnel.
Investments from this fund include Schellman, a US-based cybersecurity audit firm, Numantec, a European medical device manufacturer, and Excel Sports Management, which represents athletes and provides marketing services in the US.
More than one-third of the raised capital has already been deployed, with the firm aiming to utilise the funds over a four to four-and-a-half-year period.
Firm’s Focus
The firm is focusing on businesses with enterprise values ranging from $500M to $2B-$3B, with an expected holding period of four to five years. The firm emphasised the importance of value creation and facilitating exits within this timeframe.
In addition, Goldman Sachs Alternatives is actively raising funds for a dedicated pan-Asia private equity strategy aimed at acquiring controlling stakes in middle-market investments, as well as selective growth investments throughout the region.
As of 30 June, Goldman Sachs Alternatives managed $459B in assets under supervision, with aspirations to increase this figure to $750B by the end of 2030.
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