The Goldman Sachs Group, Inc. secured $11.7 billion in new private equity commitments for its global and pan-Asia funds. The firm’s Alternatives unit led the fundraising to expand private capital capacity for institutional clients.
This capital raise supports a strategic expansion of the Asset & Wealth Management division. Goldman is targeting increased demand for high-fee private market strategies from high-net-worth and institutional investors.
Separately, CEO David Solomon projected a slightly softer third quarter for the bank's fixed-income, currencies, and commodities (FICC) business. This outlook contrasts with continued strong performance in equities.