Goldman Sachs Group Inc. has amassed $21 billion for its largest venture into private credit, according to Investment News.
The firm has closed the latest round of its direct-lending fund, which includes fresh capital, borrowed funds, and co-investments. This capital, along with separately managed accounts, will be used for directly negotiated senior loans.
Private credit is increasingly popular among money managers looking to expand, and for Goldman, it’s crucial to demonstrate its ability to quickly raise significant funds from external investors, aiming for steady fees instead of relying on the high, volatile revenues from its own investments.
The recent fundraising is the fifth iteration of Goldman’s Loan Partners fund, which began in 2008. The $21 billion includes $13.1 billion of equity capital, long-term financing, and some of Goldman’s own balance-sheet commitments.
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