By Olivia Oran
Goldman Sachs Group Inc (GS.N) has raised around $7 billion for its new private equity fund, near the top of its targeted goal, according to two people familiar with the matter.The Wall Street firm, which was seeking to raise $5 billion to $8 billion for its first buyouts fund since the financial crisis, is expected to close the fund in the coming weeks.Called West Street Capital Partners, the fund has already invested around $2 billion in deals, the people added.
A Goldman spokeswoman declined to comment on the fund.
The new fund is substantially smaller than Goldman's last fund in 2007 which raised $20 billion. It also comes at a time when private equity firms are raising record amounts of capital.
Apollo Global Management LLC (APO.N) is seeking to raise $22.5 billion for its new fund, which would be the largest fund raised since the financial crisis by a buyouts firm. (Reporting by Olivia Oran in New York; Editing by Phil Berlowitz)
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Updated Date: Jun 15, 2017 01:00 AM