Goldman Raises $14 Billion For Private Equity Secondaries Fund

Goldman Sachs Asset Management has raised $14.2 billion for a new vehicle to buy stakes in private equity funds.

The US investment firm closed the Vintage IX fund with commitments from institutional investors, high-net worth individuals and Goldman Sachs employees, according to a statement Wednesday.

While the secondary market is dominated by investors adjusting their exposure to private equity in a stressful macroeconomic environment, it’s also helped by the emergence of so-called continuation vehicles that allow buyout firms to own a business beyond the typical holding period.

“The supply/demand analysis of the market is favoring buyers,” Harold Hope, global ...