Goldman Sachs has launched a new alternative investments platform to give wealthy clients and family offices direct access to fast-growing private companies. The platform will be led by Matt Doherty, who continues to oversee the bank's broader alternatives business, with alternative capital markets remaining the core business. It includes a newly formed private company investments team created by merging Goldman's fiduciary single-asset investment unit with its direct investment operation serving family offices, and a secondary advisory group to facilitate trading of private stakes. Kristin Olson, global head of alternatives for wealth, said the bank focuses on mature companies with proven products and substantial revenue, and has been directing clients toward AI infrastructure such as data centers. The move follows a record quarter for Goldman, with revenue of $20.34 billion and investment banking fees of $3.40 billion, and reflects a broader Wall Street trend as startups stay private longer.
Goldman Sachs Group IncGoldman Sachs launches a new private markets platform, expanding its wealth management and alternative investments business, which is a strategic growth initiative.