Goldman Sachs AM raises $200m for its debut private markets ELTIF
Barry Fricke (pictured) is EMEA head of alternatives distribution for wealth at Goldman Sachs Asset Management
The Private Markets ELTIF 2023 will provide individual investors access to direct private markets investments managed by GSAM.
It will mostly comprise private equity assets alongside a smaller allocation to higher yield private credit, it explained.
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The allocation will aim to reflect areas of the market where «deal flow is most active», GSAM said, with global diversification in mind.
The company added the ELTIF is intended to be the first in a series of private markets ELTIFs, all targeted to high-net-worth investors who can make longer-term illiquid investments.
Goldman Sachs AM confirmed the fund will be available to UK investors.
Barry Fricke, EMEA head of alternatives distribution for wealth at Goldman Sachs Asset Management, said: «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."
Goldman Sachs AM told Investment Week earlier this month it is watching the LTAF space in the UK, as it said the fund is a vehicle that could become «quite meaningful in DC but also in the
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