The Goldman Sachs Group, Inc. (NYSE: GS) today announced it has completed fundraising for GS Capital Partners V with $8.5 billion in committed capital. This is Goldman Sachs' fifth global, diversified fund dedicated to making privately negotiated equity investmen
Like its predecessors, GS Capital Partners V will seek long-term capital appreciation by committing equity to high-quality companies with superior management in a variety of situations, including leveraged buyouts, recapitalizations, and growth investments to fund acquisition or expansion. The Fund will invest across a broad range of industries and will seek to create value through meaningful involvement with portfolio companies' strategic decision-making and operating philosophy.
Goldman Sachs has committed in excess of $2.5 billion, or 30%, of the Fund's total capital. Other investors in GS Capital Partners V are part of the firm's network of qualified institutional and high net worth clients.
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The Goldman Sachs Group, Inc. (NYSE: GS)
FIRMS
Goldman Sachs has a long history of investing its capital in a variety of businesses and transactions. In 1983, Goldman Sachs began to invest in selected longer-term equity investments that came to the firm through its banking and brokerage clients. Many of the early investments proved successful, and in 1986 Goldman Sachs began to establish investment partnerships that allowed its clients to participate alongside the firm.
In 1991, Goldman Sachs created the Principal Investment Area (PIA), which manages its private corporate equity and mezzanine investment activities on a global basis. Goldman Sachs PIA funds allow Goldman Sachs and its clients to invest primarily in corporate equity securities through the GS Capital Partners series of funds and in mezzanine opportunities through the GS Mezzanine Partners series of funds. To support these activities, the PIA has experienced professionals in New York, London, San Francisco, Hong Kong, and Tokyo.
Goldman Sachs' Principal Investment Area has formed 11 investment vehicles aggregating $26 billion of capital to date.
Mezzanine Investing: In 2003, Goldman Sachs raised its third mezzanine fund, GS Mezzanine Partners III (GSMP III), with $2.7 billion of available capital. Today, GSMP III is the largest mezzanine fund in the world.
PRIOR INVESTMENTS
Past investments include: Allied World Assurance Company; Burger King; Cognis GmbH; Executive Jet; Hexcel Corporation; Kabel Deutschland GmbH; Kookmin Bank; Messer Griesheim Group GmbH; Nalco Company; Orion Power Holdings; Ping An Insurance Co. of China; Polo Ralph Lauren; R.H. Donnelley; VoiceStream Wireless; Western Wireless; Westminster Health Care; Wincor-Nixdorf GmbH; and Yankees Entertainment and Sports Network.
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