Fried Frank Steers Goldman Unit on $15 Billion Junior Debt Fund

Fried Frank advised Goldman Sachs Group Inc.’s asset management unit on its new fund that has raised around $15.2 billion for private credit investments that help navigate “the volatile current market conditions.”

Goldman Sachs Asset Management LP’s new West Street Mezzanine Partners VIII fund closed with $11.7 billion of equity commitments and around $3.5 billion expected to come from long-term asset financing, according to a statement.

The fund is the firm’s eighth in a series that has raised more than $53 billion since 1996 for investments in so-called mezzanine debt, focused on junior fixed income investments in private equity-backed businesses. ...