Reuters - Goldman said ramping up private equity

Lloyd Fonzie Blankfein

Goldman Sachs is ramping up its private-equity investments and going after smaller, high-growth targets as part of a broad plan to offset recent trading declines, three people familiar with the effort told Reuters.

The news agency reports that Goldman’s investment bank, which typically focuses on advising large companies on mergers and raising capital, is now looking to use Goldman’s own funds to finance a handful of small, promising companies in the near-term, the people said.

The team scouting for deals is led by senior investment banker Kathy Elsesser, who earlier this year took on the project in addition to her role as global chair of consumer, retail and healthcare investment banking.

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Goldman plans private equity expansion to help offset trading funk

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