Goldman Sachs Group Inc. (NYSE: GS) announced on Tuesday that its alternatives business secured $11.7 billion across a new set of private equity funds and related investment vehicles. The capital raise is intended to support buyout activities and regional strategies as the firm seeks to expand its broader alternatives platform.
The largest portion of the capital came from West Street Capital Partners IX, which collected $9.6 billion, according to Reuters. Additionally, West Street Asia Equity Partners I raised $1.6 billion, and associated co-investment vehicles raised $500 million. Goldman stated that more than one-third of the fund’s commitments have already been invested.
Michael Bruun, the global co-head of private equity at Goldman Sachs Alternatives, explained that the firm typically holds companies for four to five years. Enterprise values for these investments generally start around $500 million and extend to roughly $2 billion to $3 billion. Bruun emphasized that the firm focuses on seeing value creation over that period and facilitating an exit.
Goldman Sachs noted that West Street Capital Partners IX attracted backing from institutional and wealthy investors across North America, Europe, and the Middle East. The firm’s portfolio includes U.S. cybersecurity audit company Schellman, European medical devices market Numantec, and U.S. sports and marketing agency Excel Sports Management.
Separately, Goldman Sachs is still raising money for a pan-Asia private equity effort aimed at taking control positions in middle-market companies, alongside selected growth investments. The alternatives unit reported $459 billion in assets under supervision as of June 30, with a stated target of $750 billion by the end of 2030.
