Goldman Sachs’ European Private Credit Strategy Crosses $10B

Goldman Sachs Alternatives’ evergreen European private credit strategy surpassed $10 billion in total assets as of August, the firm said, extending the growth of a vehicle launched in October 2023.

The figure is broader than investor capital raised. Goldman Sachs says its measure includes leverage, the fair value of private and liquid credit investments, and the notional value of unfunded commitments, while excluding cash. The strategy had more than $8 billion in assets on the same basis as of March 4.

The GSEC strategy primarily targets directly originated, floating-rate loans that pay current interest to companies located in Europe. It invests alongside Goldman Sachs’ closed-end European senior direct lending funds and follows a buy-and-hold approach, according to the firm.

The portfolio has exposure to more than 400 companies, including private credit loans to more than 100. Investors include institutions, wealth distributors, family offices, private wealth clients and Goldman Sachs employees.

“Over the past 30 years, we have built deep expertise and trusted relationships in European private credit,” said James Reynolds, global co-head of private credit at Goldman Sachs Alternatives.

GSEC is part of the firm’s $230 billion credit alternatives business.