Goldman Sachs Raises $11.7B for Private Equity

Goldman Sachs' private equity division announced on the 15th that it had completed the final close of flagship West Street Capital Partners IX at $9.6 billion, the centerpiece of $11.7 billion raised across funds and vehicles. More than one-third of the flagship is already invested, with remaining capital expected over roughly four to four-and-a-half years and typical holds of four to five years. The PE division has put more than $89 billion to work globally since 1986 and is targeting growth in assets under supervision from $459 billion to $750 billion by 2030. Capital already deployed spans cybersecurity compliance, medical devices, sports management, and project management firms in the U.S. and Europe. What is contested and who says what Brad Gross said the firm will actively leverage its global network and expertise to source differentiated investment opportunities and accelerate value creation across its portfolio companies. Michael Bruun said the firm will support its portfolio companies in successfully navigating AI transformation and scaling their businesses. An unnamed senior investment banking industry source said closing a flagship fund approaching $10 billion is meaningful in itself given the challenging fundraising environment for large buyouts, and that the strategy of splitting global buyouts and Asian mid-market opportunities into separate platforms is also worth watching closely.