Goldman Sachs is reportedly in talks to acquire Palmer Square Capital Management, a credit-focused asset manager overseeing more than $37 billion, Bloomberg reports. Discussions remain ongoing and could fall through; no purchase price has been disclosed.
If completed, the deal would support Goldman’s targets of $300 billion in credit alternative assets by 2028 and $750 billion in total alternatives by 2030. As of June 30, 2026, its alternatives business managed $459 billion, and Goldman had $4 trillion in assets under supervision. Goldman has also agreed to buy NEOS Investments for up to $2.25 billion and bought Innovator for $2 billion this year.
Goldman’s investment-management revenue rose to $3.38 billion in the second quarter, from $2.84 billion a year earlier; higher management and other fees contributed to stronger Asset & Wealth Management results. Palmer Square’s profitability was not provided, leaving the deal’s potential return unclear. Reuters reported a 6.3% U.S. private-credit default rate, while regulators and investors have raised concerns about valuations and transparency in parts of the market.
