Goldman Sachs Alternatives’ evergreen European private credit strategy (GSEC) has raised more than $6bn (around £4.5bn) of total assets since it launched in October 2023.
The business said this week that to date, subscriptions into the fund have been raised from a diverse investor base including third party distributors, family offices, private wealth clients, sophisticated institutions, and also comprises commitments from Goldman Sachs employees.
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GSEC sits within the firm’s $142bn private credit platform. The strategy’s investment objective is to generate current income by making investments predominantly in cash pay, floating rate and directly originated loans to borrower companies located primarily in Europe.
“We believe that this milestone is representative of the opportunity-set within the European direct lending market and our differentiated positioning within that landscape,” said James Reynolds, global co-head of private credit at Goldman Sachs Alternatives.
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“As appetite for evergreen products continues to grow globally, we are actively engaging with our existing and prospective client base on the various aspects of partnership, including education, that go hand in hand with these offerings,” added Stephanie Rader, global co-head of alternatives capital formation at the firm.
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