The asset management unit of financial behemoth Goldman Sachs (NYSE:GS) has raised nearly $15 billion via two private market secondaries funds, Vintage IX and Vintage Infrastructure Partners. The Vintage funds are flagship offerings of the company’s alternatives franchise and boast assets under management (AUM) of $45 billion (as of June 30). Vintage IX, the largest among Goldman’s Vintage funds, raised $14.2 billion.
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The company noted that liquidity demand from global institutions that are over-allocated to private markets remains high, and this creates an attractive scenario in the secondaries market.
Vintage Infrastructure Partners, the company’s inaugural fund focused on the infrastructure secondaries market, closed commitments of nearly $1 billion. Harold Hope, the Global Head of Secondaries at Goldman Sachs Asset Management, commented, “With dedicated infrastructure secondary capital, we hope to be a more complete solutions provider to investors and managers for liquidity options across the entire range of their private market investments.”
Is GS Stock a Good Buy?
Overall, the Street has a consensus price target of $392.38 on Goldman, alongside a Moderate Buy consensus rating. Shares of the company have gained nearly 10.5% over the past six months.
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