Goldman Sachs Intending to Raise $8 Billion in Upcoming Buyout Fund

On Friday sources directly linked with the matter revealed Goldman Sachs Group Inc. (GS) is intending to raise $8 Billion in its upcoming buyout fund slated for next week.

Following this buyout fund, Goldman Sachs will now have increased chances to win deals all over the world. Nevertheless, this will be the second buyout fund since the 2008 financial crisis which affected the banking sector widely.

Many were afraid that outbreak of corona virus would affect the date of this event, however the sources clarified the slated date still remains unchanged, further adding the fundraising will be conducted through its private equity arm West Street Capital Partners.

Established in 1986, the private equity arm has managed to raise around $47 billion since its establishment.

The bank will be securing investments from its employees and institutional investors.

One of the person revealed the bank will majorly be targeting offshore, non-Chinese investors hence they don’t foresee a scenario where coronavirus outbreak in China could affect the fundraising.

Goldman will use the funds raised to secure deals in which they will be having majority control. Additionally, the bank also aims at having about 25 investments in different sectors. These investments are supposed to have a deal range of between $150 to $600 million.