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Goldman Sachs to combine four units worth $140b in total assets
Other - JUNE 17, 2019

Goldman Sachs to combine four units worth $140b in total assets

by Andrea Zander

Goldman Sachs has plans to merge four separate private-investment groups into one unit in an attempt to generate steadier income and make itself more attractive to investors, reported The Wall Street Journal, citing people familiar with the matter.

The bank is looking to combine four different units that invest in private companies, real estate and other hard-to-access deals, totaling $140 billion in assets.

The plan to reshape Goldman’s private-investing strategy “will be a multiyear effort to evolve this business into more fee revenue and a more balanced business mix,” said John Waldron, Goldman’s president, at an industry conference last month, reported a CNBC article.

The company is also planning to raise new funds, particularly in real estate, and it may do a fundraising this year for a real estate–equity fund.

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