Goldman Sachs raises over $20bn for latest direct lending pool

Private Equity Wire

Goldman Sachs Alternatives has held the final close of West Street Loan Partners V, its latest large-cap senior direct lending vehicle, with $13.1bn of total capital, plus more than $7bn in related managed accounts and $550m of co-investment vehicles.

The fundraise is the largest Loan Partners fund raised since the inception of the strategy in 2008, according to a press statement. The capital was raised from existing and new investors as well as commitments from Goldman Sachs and its employees.

Institutional investors in the strategy include US and international pension plans, insurance companies and sovereign wealth funds, as well as investors from Goldman Sachs Private Wealth Management, family offices and third-party wealth channels.

Loan Partners V will be the first fund in the series to make disclosures under Article 8 of the European Sustainable Finance Disclosure Regulation.

To date, Loan Partners V, which is managed by the private credit business within Goldman Sachs Alternatives, has already invested or committed $4bn across 37 portfolio companies.

In the statement, James Reynolds, Global Head of Direct Lending for Goldman Sachs Alternatives, said: “The market for senior direct lending continues to benefit from the growing demand from financial sponsors. While we expect the syndicated markets and private credit markets to continue to co-exist, we are seeing an increase in attractive opportunities for alternative lending sources that can provide size, structural flexibility and certainty of execution to borrowers.”

The full article is available here. This article was published at Private Equity Wire.