According to the Wall Street Journal, the Goldman Sachs Capital Partners VI fund will be almost double the size of its current largest $8.5 billion fund, which was raised in 2005.
The move would see Goldman join private equity heavyweights such as Blackstone Group and Kohlberg Kravis Roberts., which are both expected to be closing funds worth around $20 billion.
This week it was also announced that Standard & Poor's (S&P) will buy Goldman Sachs Commodity Index (GSCI), which provides a benchmark for investment performance in the commodity markets.
As a part of the deal the GSCI will be remained the S&P GSCI Commodity Index and S&P will also take on the Goldman Sachs Sector Indexes and the Goldman Sachs Technology Index.
Terms of the deal were not released.