Goldman Sachs Raises $5.5 Billion Private-Equity Fund

Goldman Sachs Group Inc., the sixth-biggest U.S. bank, raised a fund with about $5.5 billion in capital commitments to purchase private-equity assets on the secondary market.

The GS Vintage Fund V, Goldman Sachs’s fifth dedicated private-equity secondary fund, will acquire portfolios ranging from $1 million to more than $1 billion, the New York-based company said today in a statement.

Private-equity investors such as Harvard University are taking losses, and other schools are selling their future commitments to funds on the secondary market at discounts as high as 50 percent. In 2009, investors may dump as much as $130 billion in commitments, according to David De Weese, a New York- based general partner at Paul Capital Partners, which has $6.6 billion of assets under management.

Read Full Article from Bloomberg

- Posted: 2009-04-13 07:58:56

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