Goldman Sachs Asset Management is targeting to expand its private credit investments to $300 billion during the next five years, from the $130 billion of private credit investments it has today, reported Saeed Azhar for Reuters.
Goldman’s ambitions in the private credit space are notably larger than those of its competitors, though other banks such as Morgan Stanley, JPMorgan Chase, Wells Fargo and Citigroup have also made plans to become more active in the sector.
Azhar also reported Marc Nachmann, global head of asset and wealth management at Goldman Sachs, commented that he sees ways to increase Goldman’s $1 trillion wealth management business by focusing on ultra-high-net-worth clients overseas; at the moment, 80 percent of Goldman’s wealth business is in the United States, according to Reuters’ repo