The alternative investments platform of Goldman Sachs Asset Management said on Wednesday that more than $20 billion had been raised for senior direct lending through its most recent fund. s
The goal of the West Street Loan Partners V fund is to support international enterprises backed by private equity. To date, the fund has pledged or invested $4 billion in 37 portfolio companies.
Since non-bank businesses are subject to fewer regulatory restrictions than traditional lenders, direct lending is a significant component of private credit, which has surged in recent years.
Laptops 1000Goldman Sachs wants to grow its private credit portfolio from its current $130 billion to $300 billion in five years
Loan Partners V, the most recent of Goldman Sachs Alternatives’ flagship large-cap senior direct lending vehicles, concluded on a $13.1 billion equity capital and long-term asset financing deal, which included a balance sheet commitment from Goldman Sachs.
The company also managed $7 billion in large-cap senior direct lending managed accounts and $550 million in co-investment vehicles.
The fund, which is overseen by Goldman Sachs Alternatives’ private credit division, was established with contributions from both new and current investors as well as from Goldman Sachs staff members.
The global head of direct lending at Goldman Sachs Alternatives, James Reynolds, stated that “the market for senior direct lending continues to benefit from the growing demand from financial sponsors.”
