Goldman Sachs raised $11.7 billion for private equity: about $9.6 billion for flagship West Street Capital Partners IX and $1.6 billion for West Street Asia Equity Partners I. Michael Bruun told Reuters more than one-third of the flagship fund is already invested.
Related co-investment vehicles raised $500 million. The flagship fund drew commitments from institutional and high-net-worth investors across North America, Europe and the Middle East, alongside significant commitments from Goldman Sachs and its employees. Goldman expects to deploy the capital over about four to four-and-a-half years; investments so far include U.S. cybersecurity audit firm Schellman, European medical-device maker Numantec and U.S. sports representation and marketing agency Excel Sports Management.
At the end of the second quarter, Goldman reported $459 billion in alternative investment assets under supervision, up $30 billion during the quarter. Gross third-party alternatives fundraising across strategies reached a record $59 billion in fiscal Q2, while management and other fees from alternative investments rose 22% year on year to $725 million. Goldman targets $750 billion in fee-paying alternative assets under supervision by end-2030. Bruun said the firm typically expects to hold investments for four to five years and must create value and facilitate exits during that period.
