Goldman Sachs Closes $9.7 Billion Private Equity Fund, Invests $300 Million Per Deal in Financial & Business Services, Healthcare, Consumer, Technology & Climate Transition
20th October 2022 | Hong Kong
Goldman Sachs Asset Management has announced the close of its $9.7 billion private equity fund (West Street Capital Partners VIII), targeting to invest on average $300 million per deal in sectors in financial & business Services, healthcare, consumer, technology & climate transition. Goldman Sachs Asset Management: “The fund’s capital was raised from a diverse group of institutional and high net worth investors, alongside a significant commitment from Goldman Sachs and its employees. The Private Equity business within Goldman Sachs is led by an experienced global team, combining a deep local presence in markets across the US, Europe and Asia with global insights and capabilities across sectors. Goldman Sachs seeks to be a preferred buyer and partner for companies looking to grow their businesses, improve performance and expand into new markets. The fund leverages Goldman Sachs’ proprietary operating platform, the GS Value Accelerator, to work with portfolio companies to build enduring businesses and create incremental value. The Value Accelerator includes a global network of operating advisors and sector experts who can support companies in scaling revenue, operational excellence, digital transformation, talent strategy and ESG optimization.”
“ Goldman Sachs Closes $9.7 Billion Private Equity Fund, Invests $300 Million Per Deal in Financial & Business Services, Healthcare, Consumer, Technology & Climate Transition “
Top five deals from the fund by invested cost in the last 12 months – WSCP VIII has already invested in a number of companies, diversified by geography and industry, including Norgine, a European specialty pharmaceutical company, Nippo Corporation, a road pavement company in Japan, Parexel, a global contract research organization, MDVIP, a membership-based healthcare platform in the U.S and LRQA, a U.K.-based global provider of assurance, inspection and consulting services.
Julian Salisbury, global co-head of Goldman Sachs Asset Management: “Private equity is a core element of our leading Alternatives platform. This fundraise builds on our 30-year history in private equity as we continue to scale the business and make our Alternatives offerings available to a wider range of investors. With widespread disruption taking place across industries driven by technological, industrial and geopolitical changes, we see many opportunities to identify leading companies and support their growth through an uncertain macro environment by leveraging the scale, resources and global network of Goldman Sachs.”
Goldman Sachs Asset Management Announcement
Goldman Sachs Asset Management Completes Final Close of West Street Capital Partners VIII
- Global investment mandate to identify leading companies and drive value creation, building on Goldman Sachs’ 30-year history in private equity
- Fundraise closed significantly above its original target, drawing strong interest from institutional and high net worth investors
Goldman Sachs Asset Management (“Goldman Sachs”) today announced the final close of West Street Capital Partners VIII (“WSCP VIII” or “the fund”). The fund, which closed at $9.7bn, is positioned to continue Goldman Sachs’ 30-year history in private equity, investing in leading companies around the world to drive their growth.
The Private Equity business within Goldman Sachs is led by an experienced global team, combining a deep local presence in markets across the US, Europe and Asia with global insights and capabilities across sectors. The team seeks to harness the expansive relationship networks and resources of the Goldman Sachs platform to source differentiated investments and to accelerate value creation for portfolio companies. Goldman Sachs seeks to be a preferred buyer and partner for companies looking to grow their businesses, improve performance and expand into new markets. The firm has a long and successful history of partnering with families and founders in particular, who entrust Goldman Sachs to be responsible and supportive owners for the businesses they have built.
The fund will continue its strategy of targeting predominantly control-oriented investments in the upper mid-market, with an average investment size of $300m. Building on the team’s deep domain expertise and industry track record, expected target sectors for the fund are Financial & Business Services, Healthcare, Consumer, Technology and Climate Transition. The team’s unique vantage point within the Goldman Sachs platform enables it to identify disruptive forces and trends within these sectors early and to source unique opportunities for investment.
The fund leverages Goldman Sachs’ proprietary operating platform, the GS Value Accelerator, to work with portfolio companies to build enduring businesses and create incremental value. The Value Accelerator includes a global network of operating advisors and sector experts who can support companies in scaling revenue, operational excellence, digital transformation, talent strategy and ESG optimization.
WSCP VIII has already invested in a number of companies, diversified by geography and industry, including Norgine, a European specialty pharmaceutical company, Nippo Corporation, a road pavement company in Japan, Parexel, a global contract research organization, MDVIP, a membership-based healthcare platform in the U.S and LRQA, a U.K.-based global provider of assurance, inspection and consulting services. (Top five deals from the fund by invested cost in the last 12 months.)
The fund’s capital was raised from a diverse group of institutional and high net worth investors, alongside a significant commitment from Goldman Sachs and its employees.
Julian Salisbury, global co-head of Goldman Sachs Asset Management:
“Private equity is a core element of our leading Alternatives platform. This fundraise builds on our 30-year history in private equity as we continue to scale the business and make our Alternatives offerings available to a wider range of investors. With widespread disruption taking place across industries driven by technological, industrial and geopolitical changes, we see many opportunities to identify leading companies and support their growth through an uncertain macro environment by leveraging the scale, resources and global network of Goldman Sachs.”
About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios.
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