Goldman Sachs boss David Solomon stated he expects the agency to boost over $70bn (£54.2bn) for different investments in 2025, and highlighted the expansion of personal credit score as “one of the crucial essential structural developments in finance at this time”.
In a letter to shareholders to accompany the Wall Road behemoth’s annual report, Solomon famous the speedy progress of personal belongings, prompting the agency to launch its Capital Options Group earlier this 12 months to serve that market extra successfully.
“The mix of a preeminent company franchise with a globally scaled investing platform permits us to establish probably the most compelling alternatives for our investing purchasers 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 resolution actions in its world banking and markets division.
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“Whereas the Capital Options Group sits inside World Banking and Markets, the flexibility to supply these non-public asset alternatives offers each essential capital for our banking purchasers and distinctive investments for our asset administration and wealth administration purchasers,” Solomon stated within the letter.
Moreover, the letter highlighted progress in Goldman Sachs’ asset and wealth administration division final 12 months, leading to administration and different charges exceeding $10bn.
Inside alternate options, Goldman Sachs is scaling its flagship fund programmes and growing new methods, Solomon stated.
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“We stay centered on penetrating the institutional shopper base and increasing our wealth channel,” he added. “We achieved over $70bn in alternate options fundraising in 2024, and we count on 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 12 months, whereas earnings per share grew by 77 per cent to $40.54.