Goldman Sachs Raises $11.7 Billion for Flagship Private Equity Fund
Goldman Sachs has raised $11.7 billion across its latest private equity funds and related vehicles, with the bulk of the money going into its flagship buyout strategy, West Street Capital Partners IX.
The firm's ninth vintage in this strategy drew commitments from institutional and high-net-worth investors across North America, Europe, and the Middle East, as well as significant contributions from Goldman Sachs and its employees. The $9.6 billion raised for WSCP IX is the largest portion of the total haul, with the remaining capital split between Asia-focused West Street Asia Equity Partners I and co-investment vehicles.
The flagship fund targets companies with enterprise values between $500 million and $2 to $3 billion, and plans to deploy the capital over roughly four to four-and-a-half years. According to Michael Bruun, global co-head of private equity at Goldman Sachs Alternatives, the firm is committed to creating value over this period and facilitating an exit.
With this latest fundraising effort, Goldman Sachs Alternatives aims to reach its target of $750 billion in assets under supervision by 2030. The firm currently holds $459 billion in assets under supervision as of June 30.