Goldman Sachs & United States $1.7 Trillion Asset Manager T. Rowe Price Announced Strategic Partnership to Provide Public & Private Market Solutions for Retirement & Wealth Investors with Goldman Sachs to Buy $1 Billion Shares of T. Rowe Price in Open Market (Up to 3.5% Shareholding), T. Rowe Price Current Market Value at $24.5 Billion, Partnership Include 1) Launch of Co-Branded Target-Date Strategies in Mid-2026 Supported by Goldman Sachs, T. Rowe Price & $98 Billion Credit-Focused Asset Manager OHA, 2) Will Launch Co-Branded Model Portfolios (SMAs, Direct Indexing, ETFs, Mutual Funds & Private Market Vehicles) for Mass-Affluent & HNW Clients, 3) Partnership on Multi-Asset Offerings Including Private Markets (Private Equity, Private Credit & Infrastructure) and 4) Personalized Advice Solutions & Advisor Managed Accounts, Goldman Sachs Asset Management with $3.3 Trillion AUM & Goldman Sachs Alternatives with $550 Billion AUM, OHA is Private Markets Platform of T. Rowe Price
5th September | Hong Kong
Goldman Sachs ($226 billion market value) & United States asset manager T. Rowe Price ($1.7 trillion AUM, $24.5 billion market value) have announced a strategic partnership to provide public & private market solutions for retirement & wealth investors, with Goldman Sachs to buy $1 billion shares of T. Rowe Price in open market (Up to 3.5% shareholding). T. Rowe Price current market value is at $24.5 billion. The Goldman Sachs & T. Rowe Price partnership include 1) Launch of co-branded target-date strategies in mid-2026 supported by Goldman Sachs, T. Rowe Price & credit-focused asset manager OHA ($98 billion AUM), 2) Will launch co-branded model portfolios (SMAs, direct indexing, ETFs, mutual funds & private market vehicles) for mass-affluent & HNW clients, 3) Partnership on multi-asset offerings including private markets (private equity, private credit & infrastructure) and 4) Personalized advice solutions & advisor managed accounts. Goldman Sachs Asset Management has $3.3 trillion AUM & Goldman Sachs Alternatives has $550 Billion AUM. OHA is the private markets platform of T. Rowe Price Group. Announcement (4/9/25): “Goldman Sachs and T. Rowe Price (the “firms”) today announced a strategic collaboration aimed at delivering a range of diversified public and private market solutions designed for the unique needs of retirement and wealth investors. This collaboration will leverage the strengths of both firms, including respective investment expertise, solutions orientations, and a deep understanding of the needs of intermediaries and their clients. A central focus is on providing a range of wealth and retirement offerings that incorporate access to private markets for individuals, financial advisors, plan sponsors, and plan participants. The firms are pleased to announce that Goldman Sachs intends to invest, through a series of open-market purchases, up to $1 billion in T. Rowe Price common stock with the intention to own up to 3.5 percent. Key Highlights – 1) Target-Date Strategies: The firms will offer new, co-branded target-date strategies that leverage T. Rowe Price’s expertise in the retirement blend series while broadening plan participants’ access to private markets by incorporating investment capabilities from Goldman Sachs, T. Rowe Price and OHA. Goldman Sachs will serve as third-party provider of private market strategies for the target-date series. The firms intend to launch the solutions in mid-2026. 2) Model Portfolios: The firms will introduce a series of jointly created, co-branded model portfolios leveraging the strengths of both organizations, incorporating SMAs, direct indexing, ETFs, mutual funds and private market vehicles tailored to the needs of advisors serving mass-affluent and high-net-worth (HNW) clients. 3) Multi-Asset Offerings: T. Rowe Price and Goldman Sachs will also collaborate on multi-asset offerings. The firms are currently considering two strategies—one that will provide access to asset classes such as private equity, private credit and private infrastructure in a diversified portfolio delivered through one vehicle, and another that integrates US public and private equity investing into a single offering. 4) Personalized Advice Solutions and Advisor Managed Accounts: The firms are collaborating to deliver an innovative, scalable advisory platform for advisors and other RIAs to offer managed retirement accounts at scale in-plan and out-of-plan. This includes integrating retirement planning and advice from the firms into the T. Rowe Price recordkeeping and Individual Investor platforms.” In 2025 June, Goldman Sachs Asset Management $386 billion (Assets under Supervision) OCIO service (Outsourced Chief Investment Officer) acquired the first client in Japan in 2024, with 2nd client (pension fund) acquired in early 2025 & has 10 potential clients. Goldman Sachs Asset Management OCIO & Fiduciary Management – As an Outsourced Chief Investment Officer (OCIO) partner with one of the largest open architecture platforms globally, we seek to help institutional investors achieve their investment outcomes through higher risk-adjusted returns, while lowering costs and reducing the administrative and operational burden on the in-house team. In 2025 April, Goldman Sachs Asset Management Alternatives ($500 billion AUM) launched an evergreen private equity strategy G-PE fund for qualified investors with access to flagship strategies including buyout, growth, secondaries & co-investment. The G-PE fund is part of Goldman Sachs Alternatives G-Series open-ended private markets funds with strategies including private equity, infrastructure, real estate credit & private credit. The Alternatives strategies are available via Goldman Sachs Private Wealth Management & third-party distributors. In 2025 January, Goldman Sachs Asset Management Alternatives launched an open-ended global infrastructure strategy G-INFRA for qualified individual investors via Goldman Sachs Private Wealth Management, exclusive distribution arrangement with HSBC Global Private Banking in selected markets and select partners globally. The G-INFRA targets investments in directly originated core-plus value add private infrastructure in mid-market, secondaries & liquid assets. Goldman Sachs Alternatives Infrastructure was launched in 2006, and has invested $16 billion in 40 portfolio companies. In 2024 July, Goldman Sachs Asset Management is raising $2 billion for a new APAC private equity fund targeting first close in 2024 Q4. In 2024 May, Goldman Sachs Asset Management raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
“ Goldman Sachs & United States $1.7 Trillion Asset Manager T. Rowe Price Announced Strategic Partnership to Provide Public & Private Market Solutions for Retirement & Wealth Investors with Goldman Sachs to Buy $1 Billion Shares of T. Rowe Price in Open Market (Up to 3.5% Shareholding), T. Rowe Price Current Market Value at $24.5 Billion, Partnership Include 1) Launch of Co-Branded Target-Date Strategies in Mid-2026 Supported by Goldman Sachs, T. Rowe Price & $98 Billion Credit-Focused Asset Manager OHA, 2) Will Launch Co-Branded Model Portfolios (SMAs, Direct Indexing, ETFs, Mutual Funds & Private Market Vehicles) for Mass-Affluent & HNW Clients, 3) Partnership on Multi-Asset Offerings Including Private Markets (Private Equity, Private Credit & Infrastructure) and 4) Personalized Advice Solutions & Advisor Managed Accounts, Goldman Sachs Asset Management with $3.3 Trillion AUM & Goldman Sachs Alternatives with $550 Billion AUM, OHA is Private Markets Platform of T. Rowe Price “
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David Solomon, Chairman and Chief Executive Officer of Goldman Sachs: “This investment and collaboration represent our conviction in a shared legacy of success delivering results for investors. With Goldman Sachs’ decades of leadership innovating across public and private markets and T. Rowe Price’s expertise in active investing, clients can invest confidently in the new opportunities for retirement savings and wealth creation.”
Rob Sharps, Chair, Chief Executive Officer and President of T. Rowe Price: “As a leader in retirement, we have a proven track record of using our expertise to drive solutions that help our clients confidently prepare for, save for, and live in retirement. We are excited to collaborate with Goldman Sachs—building on our broad capabilities across public and private markets to offer clients the ability to unlock the potential of private capital as part of their retirement and wealth management strategies.”
Glenn August, Founder and Chief Executive Officer of OHA: “This strategic collaboration greatly enhances T. Rowe Price’s and OHA’s ability to deliver a wider range of investment strategies, focusing on accelerating innovation and creating new products to serve client needs. We welcome T. Rowe Price’s and Goldman Sachs’ commitment to deepen private market alternatives access to wealth and retirement clients. We view this collaboration as an important milestone in OHA’s growth with T. Rowe Price.”
Goldman Sachs – Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Goldman Sachs Asset Management – Goldman Sachs Asset Management is the primary investing area within Goldman Sachs, delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors, and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $3.3 trillion in assets under supervision as of June 30, 2025.
Goldman Sachs Alternatives – Goldman Sachs Alternatives is one of the leading investors globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
T. Rowe Price – T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.70 trillion1 in client assets as of July 31, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets.
OHA: OHA is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm has approximately $98 billion in assets under management (AUM) across credit strategies, including private credit, distressed and special situation investments, high yield bonds, leveraged loans, private capital solutions and collateralized loan obligations as of June 30, 2025. Additional information on OHA’s AUM calculation methodology can be found on the OHA website. OHA’s emphasis on long-term partnerships with companies, sponsors and other partners allows for the provision of customized credit solutions across market cycles. With over 420 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ-GS: TROW).
Goldman Sachs Asset Management $386 Billion OCIO Service (Outsourced Chief Investment Officer) Acquired First Client in Japan in 2024, 2nd Client (Pension Fund) Acquired in Early 2025 & Has 10 Potential Clients
9th June – Goldman Sachs Asset Management $386 billion (Assets under Supervision) OCIO service (Outsourced Chief Investment Officer) has acquired the first client in Japan in 2024, with 2nd client (pension fund) acquired in early 2025 & has 10 potential clients. Goldman Sachs Asset Management OCIO & Fiduciary Management – As an Outsourced Chief Investment Officer (OCIO) partner with one of the largest open architecture platforms globally, we seek to help institutional investors achieve their investment outcomes through higher risk-adjusted returns, while lowering costs and reducing the administrative and operational burden on the in-house team. In 2025 April, Goldman Sachs Asset Management Alternatives ($500 billion AUM) launched an evergreen private equity strategy G-PE fund for qualified investors with access to flagship strategies including buyout, growth, secondaries & co-investment. The G-PE fund is part of Goldman Sachs Alternatives G-Series open-ended private markets funds with strategies including private equity, infrastructure, real estate credit & private credit. The Alternatives strategies are available via Goldman Sachs Private Wealth Management & third-party distributors. In 2025 January, Goldman Sachs Asset Management Alternatives launched an open-ended global infrastructure strategy G-INFRA for qualified individual investors via Goldman Sachs Private Wealth Management, exclusive distribution arrangement with HSBC Global Private Banking in selected markets and select partners globally. The G-INFRA targets investments in directly originated core-plus value add private infrastructure in mid-market, secondaries & liquid assets. Goldman Sachs Alternatives Infrastructure was launched in 2006, and has invested $16 billion in 40 portfolio companies. In 2024 July, Goldman Sachs Asset Management is raising $2 billion for a new APAC private equity fund targeting first close in 2024 Q4. In 2024 May, Goldman Sachs Asset Management raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
Goldman Sachs Asset Management $500 Billion Alternatives Launches Evergreen Private Equity Strategy G-PE Fund for Qualified Investors with Access to Flagship Strategies Including Buyout, Growth, Secondaries & Co-Investment, Part of G-Series Open-Ended Private Markets Funds with Strategies Including Private Equity, Infrastructure, Real Estate Credit & Private Credit, Available via Goldman Sachs Private Wealth Management & Third-Party Distributors
6th April 2025 – Goldman Sachs Asset Management Alternatives ($500 billion AUM) has launched an evergreen private equity strategy G-PE fund for qualified investors with access to flagship strategies including buyout, growth, secondaries & co-investment. The G-PE fund is part of Goldman Sachs Alternatives G-Series open-ended private markets funds with strategies including private equity, infrastructure, real estate credit & private credit. The Alternatives strategies are available via Goldman Sachs Private Wealth Management & third-party distributors. Announcement (3/4/25): ”Goldman Sachs Alternatives today announced that it has launched its G-PE fund, part of its ‘G-Series’ suite of open-ended private markets funds that benefit from the firm’s 36-year track record as a leader in private investing. The fund is the latest fund launched under the G-Series brand. G-PE is an evergreen private equity strategy providing access across flagship Goldman Sachs private equity franchises. G-PE provides access to private equity deals from a range of flagship strategies including buyout, growth, secondaries and co-investment. The strategies launched under the G-Series brand have been designed to provide efficient access for qualified investors globally to a range of investment strategies spanning Private Equity, Infrastructure, Real Estate Credit and Private Credit. The launch continues the firm’s efforts to expand access to its $500bn Alternatives platform for professional investors, including qualified individuals, widening access to the performance and diversification benefits of private markets. The strategies are accessible through Goldman Sachs Private Wealth Management and select third party distributors across several markets. The expansion of ‘G-Series’ comes as both individual and institutional investors look for new sources of diversification to assets that are uncorrelated to public markets.” In 2025 January, Goldman Sachs Asset Management Alternatives launched an open-ended global infrastructure strategy G-INFRA for qualified individual investors via Goldman Sachs Private Wealth Management, exclusive distribution arrangement with HSBC Global Private Banking in selected markets and select partners globally. The G-INFRA targets investments in directly originated core-plus value add private infrastructure in mid-market, secondaries & liquid assets. Goldman Sachs Alternatives Infrastructure was launched in 2006, and has invested $16 billion in 40 portfolio companies. In 2024 July, Goldman Sachs Asset Management is raising $2 billion for a new APAC private equity fund targeting first close in 2024 Q4. In 2024 May, Goldman Sachs Asset Management raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
Kristin Olson, Global Head of Alternatives for Wealth at Goldman Sachs: “As more companies opt to stay private for longer and a greater share of economic growth occurs in private markets, investors will need to look beyond the public markets. We believe private market investments can help our clients with the appropriate risk profile build a more diversified portfolio and are pleased to take advantage of product innovations to expand access and opportunities for them.”
Goldman Sachs Alternatives – Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of December 31, 2024.
Goldman Sachs Asset Management $500 Billion Alternatives Launches Open-Ended Global Infrastructure Strategy G-INFRA for Qualified Individual Investors via Goldman Sachs Private Wealth Management, Exclusive Distribution Arrangement with HSBC Global Private Banking in Selected Markets and Select Partners Globally, G-INFRA Targets Investments in Directly Originated Core-Plus Value Add Private Infrastructure in Mid-Market, Secondaries & Liquid Assets, Goldman Sachs Alternatives Infrastructure was Launched in 2006 & Has Invested $16 Billion in 40 Portfolio Companies
23rd January 2025 – Goldman Sachs Asset Management Alternatives ($500 billion AUM) has launched an open-ended global infrastructure strategy G-INFRA for qualified individual investors via Goldman Sachs Private Wealth Management, exclusive distribution arrangement with HSBC Global Private Banking in selected markets and select partners globally. The G-INFRA targets investments in directly originated core-plus value add private infrastructure in mid-market, secondaries & liquid assets. Goldman Sachs Alternatives Infrastructure was launched in 2006, and has invested $16 billion in 40 portfolio companies. Announcement (21/1/25): “New York / London – Goldman Sachs Alternatives today announced that it has launched a new open-ended, global infrastructure strategy (“G-INFRA”) that will benefit from the firm’s 18-year track record as a leader in private infrastructure investing. This launch continues the firm’s efforts to expand access to its $500bn Alternatives platform for professional investors, including qualified individuals, widening access to the performance and diversification benefits of private markets. The strategy targets investments in directly originated core-plus value add private infrastructure in the mid-market, as well as secondaries and liquid assets. Established in 2006, Infrastructure at Goldman Sachs Alternatives has invested $16 billion across 40 portfolio companies since its inception. The business has a long track record of investing across the key sectors of infrastructure, including energy transition, digital infrastructure, transportation & logistics and circular economy. In addition, Vintage Strategies at Goldman Sachs Alternatives has invested approximately $4bn in infrastructure secondaries over the last 16 years, building on the team’s broad and deep manager relationships to source secondary acquisitions of mature, cash-flowing infrastructure assets. The launch of G-INFRA, which will have US and Luxembourg-registered versions, follows the successful launch of several other open-ended strategies designed to provide qualified individual investors globally with access to a range of Goldman Sachs Alternatives strategies including in Private Credit, Real Estate and Private Equity. The strategy will be accessible to Goldman Sachs Private Wealth Management clients, as well as through an exclusive distribution arrangement with HSBC Global Private Banking in certain markets, among select partners in other jurisdictions.” In 2024 July, Goldman Sachs Asset Management is raising $2 billion for a new APAC private equity fund targeting first close in 2024 Q4. In 2024 May, Goldman Sachs Asset Management raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
Tavis Cannell, Global Head of Infrastructure at Goldman Sachs Alternatives: “The current opportunity set in infrastructure is both exciting and expansive, driven by key megatrends including digitization and decarbonization. This evergreen product will provide wealth clients with a way to invest alongside our flagship institutional strategies across our infrastructure platform.”
Henry Willans, Head of Infrastructure for Vintage Strategies at Goldman Sachs Alternatives: “The development of the private infrastructure market is creating significant opportunities for secondaries investors to provide liquidity solutions and gain access to mature, cash-flowing infrastructure assets. We are pleased to bring our experience investing in infrastructure secondaries to this new strategy.”
Stephanie Rader, Global Co-Head of Alternatives Capital Formation at Goldman Sachs Alternatives: “Infrastructure is a unique asset class with resilient and predictable cashflows, embedded inflation protection, and low correlation to other asset classes. We are pleased to have launched this evergreen format that will broaden access to the investment strategy.”
Goldman Sachs Alternatives. Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $3 trillion in assets under supervision globally as of 31st December 2024.
$2.8 Trillion Goldman Sachs Asset Management to Raise $2 Billion for New APAC Private Equity Fund Targeting First Close in 2024 Q4
18th July 2024 – Goldman Sachs Asset Management with $2.8 trillion Assets under Supervision, is raising $2 billion for a new APAC private equity fund targeting first close in 2024 Q4. In 2024 May, Goldman Sachs Asset Management raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. The West Street Real Estate Credit Partners IV will originate, underwrite & hold loans backed by high quality real estate, and including in America, Europe & APAC (focus on Australia). The $3.6 billion funds is raised from institutional investors (sovereign wealth funds, pensions, insurers), family offices and wealthy management firms & clients. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
$2.8 Trillion Goldman Sachs Asset Management Raises $3.6 Billion for New $7 Billion Real Estate Credit Fund West Street Real Estate Credit Partners IV Targeting 10% to 12% Net Returns, Goldman Sachs to Invest $1.4 Billion with Balance Sheet Capital & $2 Billion in Leverage
16th May 2024 – Goldman Sachs Asset Management with $2.8 trillion Assets under Supervision, has raised $3.6 billion for the new $7 billion Real Estate Credit Fund (West Street Real Estate Credit Partners IV) targeting 10% to 12% net returns, with Goldman Sachs to invest $1.4 billion with balance sheet capital & $2 billion in leverage. The West Street Real Estate Credit Partners IV will originate, underwrite & hold loans backed by high quality real estate, and including in America, Europe & APAC (focus on Australia). The $3.6 billion funds is raised from institutional investors (sovereign wealth funds, pensions, insurers), family offices and wealthy management firms & clients. In March 2024, Goldman Sachs Asset Management announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees.
$2.8 Trillion Goldman Sachs Asset Management Closes $700 Million Opportunistic Co-Investment Fund Union Bridge Partners I Co-investing in External Private Credit & Hedge Fund Managers, Funds Raised from Institutions, Family Offices, Private Wealth Clients & Goldman Sachs Employees, Union Bridge is Part of Goldman Sachs $340 Billion External Investing Group Which Sources Opportunities from 3rd-Party Asset Managers
22nd March 2024 – Goldman Sachs Asset Management with $2.8 trillion Assets under Supervision, has announced the close of the new $700 million opportunistic co-investment fund Union Bridge Partners I, which co-invests in external private credit & hedge fund managers. The new $700 million fund were raised from institutions, family offices, private wealth clients & Goldman Sachs employees. Union Bridge is part of Goldman Sachs $340 billion external investing group (XIG) which sources opportunities from 3rd-party asset managers. Announcement (21/3/24): “Goldman Sachs Asset Management today announced the final close of Union Bridge Partners I (“Union Bridge”), which closed on 31 December 2023 with over $700mm in capital commitments. Union Bridge is an opportunistic co-investment strategy that seeks to deliver compelling risk-adjusted returns by identifying unique investment opportunities in both public and private markets that fall outside the mandate of traditional market participants. Union Bridge sources from leading external private credit and hedge fund managers’ high conviction positions and invests side-by-side, working together with them to help drive positive outcomes. Union Bridge sits at the nexus of Goldman Sachs’s $340 billion External Investing Group (XIG), which helps clients to find, access and assess opportunities from third-party asset managers. XIG has relationships with thousands of leading managers globally. The capital was raised from a global and diverse investor base including sophisticated institutions, family offices, private wealth clients, and significant commitments from Goldman Sachs employees. XIG is a global platform with 400+ employees and houses some of the firm’s flagship direct Alternatives strategies, including the Vintage Strategies (Secondaries) and Petershill (GP Stakes) businesses. The Union Bridge strategy is differentiated through sourcing drawn from the scale and breadth of the XIG platform, its proprietary infrastructure custom built for co-investments opportunities, and its fully dedicated investment team – which provide critical speed of execution advantages. The fund is already ~40% deployed and has provided customized capital solutions to companies across North America and Europe in diverse sectors including hospitality, fitness centers, software and music royalties.”
Michael Brandmeyer, Global Head of XIG at Goldman Sachs Asset Management: “This fundraise reflects the growing opportunity set in co-investments, including outside of private equity where it originated, and the advantages of the XIG platform to source and execute these investments. We are grateful for the support of our clients in raising this inaugural fund and look forward to continuing to work with our extensive network of third-party managers to deliver attractive returns for clients.”
Philip Pallone, who leads the Union Bridge program: “We have seen a significant increase in the opportunity to partner with our external managers to provide flexible capital solutions to companies across public and private markets. The Union Bridge programs allows us to be stronger partners to our external managers by committing value-added capital in their highest-conviction opportunities while at the same time providing our clients access to differentiated, often exclusive, investments that they would not otherwise be able to access.”
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives and multi-asset solutions. Goldman Sachs oversees more than $2.8 trillion in assets under supervision as of December 31, 2023.
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