Goldman Sachs boss David Solomon stated he expects the agency to lift over $70bn (£54.2bn) for different investments in 2025, and highlighted the expansion of personal credit score as “one of the essential structural tendencies in finance at this time”.
In a letter to shareholders to accompany the Wall Avenue behemoth’s annual report, Solomon famous the fast development of personal belongings, prompting the agency to launch its Capital Options Group earlier this yr to serve that market extra successfully.
“The mixture of a preeminent company franchise with a globally scaled investing platform permits us to establish probably the most compelling alternatives for our investing shoppers throughout non-public credit score, non-public fairness and different belongings,” he stated.
The Capital Options Group, first unveiled on 13 January, will mix and develop the agency’s suite of financing, origination, structuring and threat administration answer actions in its world banking and markets division.
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“Whereas the Capital Options Group sits inside International Banking and Markets, the flexibility to supply these non-public asset alternatives supplies each essential capital for our banking shoppers and distinctive investments for our asset administration and wealth administration shoppers,” Solomon stated within the letter.
Moreover, the letter highlighted development in Goldman Sachs’ asset and wealth administration division final yr, leading to administration and different charges exceeding $10bn.
Inside options, Goldman Sachs is scaling its flagship fund programmes and growing new methods, Solomon stated.
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“We stay targeted on penetrating the institutional shopper base and increasing our wealth channel,” he added. “We achieved over $70bn in options fundraising in 2024, and we anticipate fundraising in 2025 to be per ranges achieved lately.”
Goldman Sachs noticed its revenues rise by 16 per cent year-on-year to $53.5bn final yr, whereas earnings per share grew by 77 per cent to $40.54.