Goldman Sachs Raises $5.2 Billion for Private Equity Growth Fund

Goldman Sachs Group Inc. raised $5.2 billion for a private equity fund that will buy early-stage companies that are typically small in size, a sign of confidence in an industry that’s confronting strong headwinds.

Goldman Sachs Asset Management’s West Street Global Growth Partners I exceeded its initial target and received $3.7 billion from institutional and high net worth investors, according to a statement Tuesday. It also got a significant commitment from the firm and its staff, it said.

The fund targets enterprise and financial technology, as well as the healthcare and consumer sectors, where the pace of innovation “shows no ...