This is the first time that Goldman Sachs is raising such funds after the 2008 financial crisis, although the amounts are nearly 5 times smaller.
According to a source who is familiar with the matter at hand, the Goldman Sachs Group is set to launch a new corporate buyout fund of $5 billion to $8 billion. This will be its first such fund since the 2008 financial crisis.
According to the source, Goldman plans on raising nearly $500 million from its employees alone. The program is set to close by the end of 2016.
The bank will contribute an insignificant portion of its own capital so as to comply with new rules designed to make banks safer.
Although this is its first corporate buyout fund post 2008’s financial crisis, it is smaller than its previous ones: in 2007 Goldman had raised $20 billion for GS Capital Partners VI.
When asked to respond to requests for comments, Goldman Sachs declined comment.
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