Goldman Sachs Asset Management, a unit of Goldman Sachs Group, plans to increase its private credit portfolio to $300 billion in five years from the current $130 billion, Reuters reported on Tuesday.
This ambitious expansion goal exceeds competitors’ target. For example, Morgan Stanley aims to double its private credit portfolio to $50 billion in the medium term, while JPMorgan Chase has earmarked at least $10 billion for private credit.
Wells Fargo and Citigroup have also entered partnerships to increase their presence in the private credit market.
Goldman Sachs intends to raise $40-50 billion for alternative investments this year, with a significant portion dedicated to private credit strategies.
The firm has been actively involved in private credit for nearly thirty years, offering various strategies tailored to different types of investors and companies.
