Goldman said to raise $7bn for new private equity fund

Goldman Crowned

Goldman Sachs 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.

Reuters reports that the Wall Street firm, which was seeking to raise $5 billion to $8 billion for its first buyouts fund since the 2008 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. The sources could not be identified because they are not authorized to speak to the media.

Some of these deals include the acquisition of digital marketing company Dominion Web Solutions for $680 million alongside French investment company Eurazeo in May, as well as engineered materials company Transcendia Inc in June.

The fund's investors include the Minnesota State Board of Investment which committed $150 million to it at the end of 2016, according to state records.

Hit the link below to access the complete Reuters article:

Goldman Sachs raises $7 billion for new private equity fund - sources

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