Goldman raises 5.5b dollars for secondary fund
Tuesday, 14 April 2009
WASHINGTON, April 13 (AFP): US investment giant Goldman Sachs has raised 5.5 billion dollars in investor commitments to buy private- equity investments at a discount on the secondary market, The Wall Street Journal and Financial Times said yesterday.
The new Goldman fund, GS Vintage Fund V, is the largest secondary fund ever raised, the two newspapers said in their online editions.
The fund hopes to benefit from the trouble bigger banks and other institutional investors are having in recovering some of the money they placed in private-equity businesses.
The new Goldman fund, GS Vintage Fund V, is the largest secondary fund ever raised, the two newspapers said in their online editions.
The fund hopes to benefit from the trouble bigger banks and other institutional investors are having in recovering some of the money they placed in private-equity businesses.