Weekly roundup of private equity sector news highlights
Goldman Sachs, the renowned investment bank, is making waves in the world of private equity and alternative asset management. The firm has launched a new open-ended private equity fund called G-PE, offering high-net-worth individuals (HNWIs) the opportunity to invest in buyout, growth, secondary, and co-investment deals.
The move is part of Goldman Sachs' broader strategy to expand its alternatives platform, aiming to compete more directly with leading alternative asset managers like Blackstone, Apollo, and KKR. Goldman Sachs is leveraging its long history and scale in private credit and private equity to innovate and broaden accessibility to alternatives beyond traditional institutional investors.
The firm’s strategy, as reflected in its broader asset and wealth management focus, leans toward growing recurring, fee-based revenue through deepening client relationships with wealthy investors and institutions. By providing investment options such as private credit funds for retirement plans and bespoke private equity opportunities for HNWIs, Goldman Sachs competes with established alternative managers by combining scale, innovation, and integrated wealth management services.
This move aligns with industry trends where alternative investments are increasingly incorporated into diversified portfolios, enhancing Goldman Sachs' competitive standing versus firms like Apollo, Blackstone, and Blue Owl who are also expanding access to private markets to a broader range of investors.
Meanwhile, Goldman Sachs is leading a $2.77 billion financing package for Prada's proposed acquisition of Versace. €1.5 billion of the financing will be used for the purchase of Versace from Capri Holdings, with the remaining €1 billion allocated to revive Versace's performance post-acquisition. The financing package is being provided by a consortium led by Goldman Sachs, with €2.5 billion in total.
Separately, Goldman Sachs has developed a private credit fund aimed at defined contribution retirement plans, representing an expansion of access to alternative credit investments traditionally reserved for institutional investors. This private credit collective investment trust manages $142 billion in assets and includes a broad mix of private credit strategies with daily liquidity features.
In the realm of sports, the NBA is also making headlines. The league is launching a European basketball league, targeting new backers from outside its existing ecosystem. The league's valuations in key markets such as London and Paris could potentially exceed $500m, with the remaining ownership of the league being offered to franchise investors. The NBA plans to retain a 50% equity stake in the league.
The NBA's move could attract a larger share of private market inflows, similar to Goldman Sachs' aim with its strategy. The league's targeting of new backers indicates a potential for private equity firms, sovereign wealth funds, and institutional capital to invest.
In summary, Goldman Sachs’ private equity and private credit offerings for HNWIs and institutional clients strengthen its role as a key competitor in the alternative asset management space, leveraging product innovation and integrated wealth solutions to rival other leading asset managers. The NBA's European basketball league, on the other hand, presents an exciting opportunity for the league to tap into new markets and attract a broader range of investors.
- Goldman Sachs, through its new open-ended private equity fund G-PE, offers high-net-worth individuals (HNWIs) opportunities to invest in buyout, growth, secondary, and co-investment deals.
- Goldman Sachs' broader strategy aims to compete more directly with leading alternative asset managers like Blackstone, Apollo, and KKR by expanding its alternatives platform.
- As part of its strategy, Goldman Sachs provides investment options such as private credit funds for retirement plans and bespoke private equity opportunities for HNWIs.
- Goldman Sachs is leading a $2.77 billion financing package for Prada's proposed acquisition of Versace, with €1 billion allocated to revive Versace's performance post-acquisition.
- Goldman Sachs has developed a private credit fund aimed at defined contribution retirement plans, managing $142 billion in assets and including a broad mix of private credit strategies with daily liquidity features.
- The NBA's European basketball league presents an opportunity for potential private equity firms, sovereign wealth funds, and institutional capital to invest, following a similar trend to Goldman Sachs' aim with its strategy.
