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Laxman Pai, Opalesque Asia: Goldman Sachs Asset Management (GSAM)'s alternative investment platform raised more than $20 billion for its private credit strategy, including the biggest pool of capital so far for the firm's senior direct lending efforts.
West Street Loan Partners V closed at $13.1 billion of capital, including that raised from LP equity commitments, long-term asset financing, and Goldman Sachs balance sheet commitment alongside the fund, the asset manager said in a media release.
In addition to capital raised in the fund, the firm closed on more than $7 billion in large-cap senior direct lending managed accounts and $550 million of co-investment vehicles.
"The fund, West Street Loan Partners V, is the latest in a series of flagship large-cap senior direct lending vehicles for Goldman Sachs Alternatives. Loan Partners V is managed by Goldman Sachs Alternatives' private-credit business," said the release.
GSAM's prior fund in the series, Loan Partners IV, closed in March 2021 with $7.1 billion in total capital available, including long-term leverage.
Greg Olafson, global head of Private Credit for Goldman Sachs Alternatives, said: "The successful fundraise is a testament to our team's experience and track record navigating market cycles in private credit for nearly 30 years. Given our team's unique sourcing capabilities and relationships with financial sponsors, and depth of investment experience through cycles, we are confident we can continue...................... To view our full article Click here
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