Goldman Sachs Raises $11.7B Across Private Equity Funds
Goldman Sachs Alternatives raised $9.6 billion for its latest flagship private equity fund and related vehicles, maintaining the scale of its predecessor despite a challenging fundraising environment for buyout managers.
West Street Capital Partners IX is the ninth fund in Goldman Sachs’ flagship buyout series. It follows West Street Capital Partners VIII, which closed with $9.7 billion in 2022.
Combined with more than $1.6 billion raised for West Street Asia Equity Partners I, its dedicated pan-Asia private equity strategy focused on control-oriented, middle-market investments as well as select growth investments across the region, and $500 million for co-investment vehicles, Goldman has collected $11.7 billion for its current generation of global private equity strategies.
WSCP IX attracted commitments from institutional and high-net-worth investors in North America, Europe and the Middle East. Goldman Sachs and its employees also made significant commitments.
The fund will primarily pursue controlling stakes in upper-middle-market companies across services, financials, technology, health care, consumer businesses and the energy transition.
The fund has already committed more than one-third of its capital. Investments include cybersecurity auditor Schellman, medical-device developer Numantec, sports representation and marketing agency Excel Sports and infrastructure project manager Mace.
“This fundraise builds on our long history as a leading private equity platform,” said Brad Gross, global co-head of private equity at Goldman Sachs Alternatives. He said investor demand reflected confidence in the platform’s ability to perform across market cycles.
Goldman’s private equity business has invested more than $89 billion since its founding in 1986. Portfolio companies can also access the firm’s Value Accelerator, which provides operational support in areas including artificial intelligence, data, revenue growth, talent and finance.
The firm is continuing to raise capital for its debut pan-Asia fund, which targets control-oriented middle-market deals and selected growth investments.