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Laxman Pai, Opalesque Asia: Goldman Sachs Alternatives, the alternative investment arm of the global financial institution Goldman Sachs, announced that its evergreen European private credit strategy (GSEC) has raised more than $6 billion of total assets.
A media release from the investor in alternatives globally stated that GSEC is part of the firm's $142 billion private credit platform, which has been an active participant in the European direct lending market since 1996.
"The strategy's investment objective is to generate current income by making investments predominantly in cash pay, floating rate, and directly originated loans to borrower companies located primarily in Europe, employing a 'buy-and-hold' strategy," the release said.
This is an extension of Goldman Sachs Private Credit's longstanding approach to partnering with leading sponsors and borrowers globally, it added.
To date, subscriptions into the fund have been raised from a diverse investor base, including third-party distributors, family offices, private wealth clients, sophisticated institutions, and commitments from Goldman Sachs employees.
James Reynolds, Global Co-Head of Private Credit at Goldman Sachs Alternatives, said: "We believe that this milestone is representative of the opportunity set within the European direct lending market and our differentiated positioning within that landscape. Our global scale, experience, and longevity continue to drive the partnerships that...................... To view our full article Click here
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