Goldman Sachs AM raises first European Long Term Investment Fund

Goldman Sachs Asset Management has raised over $200m in its inaugural European Long Term Investment Fund (“ELTIF”), Private Markets  ELTIF 2023. 

The fund will provide individual investors with access to direct private market investments  managed by Goldman Sachs Asset Management, a leading global investment firm with a 35+  year history investing in private markets, and over $450bn in total alternatives assets. 

The fund is intended to be the first in a series of Private Markets ELTIFs, through which individual investors can access the performance and diversification benefits of private markets. 

Through the Private Markets ELTIF 2023, Goldman Sachs intends to provide direct exposure to  investments spanning a range of sectors and strategies, primarily in private equity and  supplemented with a smaller allocation to higher yielding private credit.

While diversified, the composition of the portfolio is expected to reflect the areas of the market where deal flow is most active, leaning into the most compelling sectors and strategies in what is a rapidly changing investment landscape. The fund is intended to be globally diversified. Designed in principle for high-net-worth investors who can make a longer-term illiquid investment, the fund will be fully funded at launch, with an expected short investment period. 

The alternatives platform is led by an experienced global team,  combining a deep local presence in markets across the US, Europe, and Asia with global insights and capabilities across sectors. The team seeks to harness the expansive relationship networks and resources of the Goldman Sachs platform to source differentiated investments and accelerate value creation for portfolio companies.

“Institutional investors have long benefitted from private investments, which have the potential  to provide higher returns, portfolio diversification, and access to unique opportunities. Now,  individuals will also be able to get exposure to private investments through our Private Markets  ELTIF, a fund specifically designed to meet the needs of individual investors. This fund is part of a broad and deep commitment to open up our private markets business to  suitable individual investors through innovative and high-quality products, supported by  education and training for our wealth management distribution partners.”

Barry Fricke, EMEA Head of Alternatives Distribution for Wealth at Goldman Sachs Asset  Management.