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Laxman Pai, Opalesque Asia: Goldman Sachs Asset Management has announced the close of its inaugural growth equity investment fund, West Street Global Growth Partners, for acquiring minority stakes in companies.
The fund closed with $5.2 billion, as one of the largest first-time growth equity funds ever, the asset manager said in a press release.
The West Street Global Growth Partners fund, which takes its name from the Goldman Sachs headquarters on 200 West Street in Lower Manhattan, will invest roughly $50 million each in "high-growth businesses with strong market positioning, high growth rates, and durable business models," the investment manager said.
Investors in West Street Global Growth Partners I include the Canada Pension Plan Investment Board, Toronto.
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.
Julian Salisbury, Chief Investment Officer for Asset & Wealth Management at Goldman Sachs, said: "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 view our full article Click here
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