Goldman Sachs raises $3 billion for private equity fund

21 March 2007

Goldman Sachs has announced that it has raised $3 billion in capital commitments for a fourth private equity secondaries fund.

GS Vintage Fund IV, which will make investments from $1 million to $1 billion, will pursue a strategy of buying both secondaries and direct company investments [synthetic secondaries] with the intention of ensuring greater liquidity for investors.

The additional $3 billion for investment comes after Goldman Sachs recently raised $15 billion for another private equity fund, Capital Partners Fund.

GS Vintage Fund IV, which the bank said had been oversubscribed, has already invested in portfolios from Mellon Financial and JP Morgan Partners global fund.

Goldman Sachs currently manages $22 billion of private equity money, as its interests in the sector have continued to grow over the last decade.

Last week, the US banking giant reported that its first-quarter net earnings were up 29 per cent to $3.20 billion from $2.48 billion in the same period the year before.

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