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.