Goldman Sachs Group has closed a $9.7 billion private equity fund — its largest since 2007 — from a mixture of pension funds, sovereign wealth funds, financial institutions, family offices and high-net-worth individuals, according to Reuters.
The vehicle, known as West Street Capital Partners VIII, will invest in companies with an enterprise value of about $750 million to $2 billion. The vehicle plans to invest an average of $300 million to take controlling stakes in companies in the financial and business services sectors, as well as healthcare, consumer technology and climate-change transition.
“This fund raise builds on our 30-year history in private equity as we continue to scale the business and make our alternatives offerings available to a wider range of investors,” said Julian Salisbury, global co-head of Goldman Sachs Asset Management.