Goldman Sachs Asset Management Receives $15 Billion Funding For Private Market Secondaries Strategies

Goldman Sachs Asset Management on Wednesday announced the closure of funding rounds for Vintage IX and Vintage Infrastructure Partners. According to the data provided by the company, the Vintage IX fund raised $14.2 billion and Infrastructure Partners received around $1 billion support.

The ninth iteration of Goldman Sachs’ diversified private equity secondaries strategy has been able to raise funds more than its previous version which raised $10.3 billion in 2020.

Harold Hope, global head of secondaries at Goldman Sachs Asset Management, said on the development, “We are deeply appreciative of the support from both existing and new investors. In addition to this capital, we also raised committed co-investment capital which gives us additional flexibility to pursue a diverse opportunity set. With this capital we are committed to delivering on consistent and differentiated private equity returns for our investors.”

The company said in its statement that the demand for liquidity is high as many global institutions remain over-allocated to private markets. It added that investors remain in search of ways to generate liquidity within their portfolios.

Vintage Infrastructure Partners is the first fund dedicated to investing in the expanding infrastructure secondaries market. The data provided by the company on sourcing of infrastructure secondaries showed that it grew by over 40 percent between 2021 and 2022.

Hope added, "We are at an inflection point in the secondaries market. Today there are more ways to derive value from secondaries than ever before, and we believe the long-term winners in this market will be buyers that can navigate it as whole and weigh relative value across transaction types and structures.”

As per the company, the fundraises closed above the originally desired target.