Goldman Sachs Asset Management has closed debut direct private markets fund at $5.2bn

• Also, West Street Global Growth Partners I secured a significant commitment from Goldman Sachs and its employees
• The fund seeks minority stakes in businesses with an average investment size of approximately $50 million
• Target sectors are enterprise technology, financial technology, healthcare and consumer

Goldman Sachs Asset Management has closed its inaugural direct private markets fund West Street Global Growth Partners I at $5.2 billion.

The fund’s investors include a diverse group of institutional and high-net worth investors. Also, West Street Global Growth Partners I secured a significant commitment from Goldman Sachs and its employees.

The fund is managed by the growth equity business within Goldman Sachs Asset Management, which is led by Darren Cohen, Nishi Somaiya and Stephanie Hui, based in New York, London and Hong Kong respectively.

On the fundraising, Julian Salisbury, chief investment officer for asset & wealth management at Goldman Sachs, said in a statement,“Goldman Sachs has a decades-long history of backing the world’s leading founders and bringing the full resources of the firm to help them scale and build category-defining businesses. We believe the pace of innovation across enterprise technology, financial technology, healthcare, and consumer businesses shows no sign of abating, and we are excited to work closely with portfolio companies to navigate volatility and reach the next stages of growth.”

The fund seeks minority stakes in businesses with an average investment size of approximately $50 million. Target sectors are enterprise technology, financial technology, healthcare and consumer.

West Street Global Growth Partners’ past investments include 4G Clinical and AlphaSense.

Goldman Sachs Asset Management oversees more than $2 trillion in assets under supervision worldwide as of December 31, 2022.