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Alternative Assets  + Latest News  + Private Debt  | 
Goldman Sachs to Cut Its Alternative Assets Exposure

Goldman Sachs Asset Management Closes Massive $15.2B Mezzanine Fund

Goldman Sachs Asset Management, the fund arm of Goldman Sachs, closed its West Street Mezzanine Partners VIII fund with $11.7bn of equity and $3.5bn in expected long-term financing. The fund is managed by the private credit business within Goldman Sachs Asset Management.

The fund’s strategy is focused on direct origination of junior fixed income investments in companies backed by private equity firms. Fund VIII has invested or committed approximately $4bn across 13 portfolio companies.

“We are deeply appreciative of the support from existing and new limited partners. The demand is a testament to our team’s experience and track record navigating market cycles in mezzanine debt over almost three decades,” said Julian Salisbury, Chief Investment Officer for Asset & Wealth Management at Goldman Sachs.

The firm has raised more than $160bn for investments in private credit over the past 26 years, with over $53bn deployed in mezzanine strategies.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.