Goldman Sachs Falls Despite Massive Fundraise

Goldman Sachs GS fell by approximately 2.6% to $963.55 on Tuesday despite its asset-management arm raising $11.7 billion across a new group of private-equity funds.

The majority, roughly 82%, of the total amount raised went towards West Street Capital Partners IX, which has already deployed over one-third of its capital.

Goldman Sachs Alternatives manages $459 billion and aims to reach $750 billion by 2030. The current raise represents about 2.5% of the company's platform.

The valuation picture is worth watching as Goldman shares sit 16.33% above the GF Value estimate of $828.31, putting pressure on the company to deliver strong deployment returns and exits.