HONG KONG (Reuters) – Goldman Sachs Group Inc (GS.N) plans to raise $8 billion in only its second buyout fund since the 2008 financial crisis, bolstering its ability to secure deals worldwide, said two people with direct knowledge of the matter.
FILE PHOTO: The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013. REUTERS/Lucas Jackson/File Photo
Undeterred by a coronovirus epidemic in China that has cast a shadow over the global economy, the Wall Street heavyweight will kick off the fundraising next week via its private equity arm West Street Capital Partners, said the people.
The fast-spreading virus is not seen as a hurdle to the fundraising as the bank is mainly targeting offshore, non-Chinese prospective investors, said one of the people.
It is aiming for a first close by the end of March – an important milestone indicating the fund has crossed a minimum threshold and can begin making investments, said the other person.
The new fund, substantially smaller than Goldman’s biggest fund of $20 billion in 2007, underscored its commitment