Goldman Sachs PE unit closes West Street Capital Partners IX fund

Goldman Sachs' alternative investments private equity unit said Tuesday it has completed fundraising for West Street Capital Partners IX (WSCP IX) and related investment vehicles, reaching a total of $9.6 billion.

Goldman Sachs also said it has raised more than $1.6 billion through West Street Asia Equity Partners I (WSAEP I), a dedicated Asia-Pacific private equity strategy, and secured an additional $500 million through related co-investment vehicles. WSAEP I is a pan-Asia strategy focused on control buyouts and growth investments in the mid-market across the region.

Combined, Goldman Sachs' global PE unit has raised approximately $11.7 billion on a vintage basis.

WSCP IX is the ninth vintage of Goldman Sachs' alternative investments flagship buyout platform. The investment team has deployed more than $89 billion globally since 1986, working alongside companies and management teams to drive growth. Capital for the fund was raised from a diverse group of institutional and high-net-worth investors across North America, Europe and the Middle East, with Goldman Sachs and its employees also participating in significant size.

WSCP IX will continue the firm's existing strategy of targeting high-quality mid-sized companies through control buyouts. The fund plans to invest across the services, financial, technology, healthcare, consumer and energy transition sectors, drawing on deep industry expertise.

The fund has already deployed capital into a range of companies across geographies and industries, including Schellman, a US cybersecurity audit and certification services firm; Numantec, a European manufacturer of medical devices for intravenous infusion and vascular access; Excel Sports, a US independent sports management and marketing agency; and Mace, a Europe-based global project management services company.

Portfolio companies will have access to the GS Value Accelerator, Goldman Sachs' proprietary platform that provides a network of world-class operational advisers and specialists. The platform supports companies across technology, data and AI transformation, sales expansion, talent strategy and operational efficiency.

Brad Gross, global co-head of Goldman Sachs' alternative investments PE unit, said the close allows the firm to build on its reputation as a leading private equity platform. "We will leverage Goldman Sachs' global network and expertise to identify differentiated investment opportunities and accelerate value creation across our portfolio companies," he said.

Michael Bruun, global co-head of Goldman Sachs' alternative investments PE unit, said the firm is prepared to execute a resilient investment strategy amid macroeconomic and geopolitical shifts. "We will actively draw on our extensive resources and expert network to help portfolio companies successfully navigate the ongoing AI transformation," he said.

Meanwhile, Goldman Sachs' alternative investments division earlier this year demonstrated its deployment capabilities by acquiring a 100 percent stake in Burger King Japan from Affinity Equity Partners for 78.5 billion yen ($509 million).