Goldman Sachs has closed its latest senior credit fund at $4.4 billion. The private credit group in Goldman Sachs’ Merchant Banking Division is managing the fund.
NEW YORK–(BUSINESS WIRE)–Goldman Sachs announced today that it has completed the final close for its latest performing senior credit vehicle, Broad Street Senior Credit Partners II (“Senior Credit Partners II” or the “Fund”). The Fund has $4.4 billion of total capital available to invest, including leverage.
Senior Credit Partners II is managed by the Private Credit Group in Goldman Sachs’ Merchant Banking Division (“MBD”). Over its 20 year history, the Private Credit Group has raised over $80 billion of capital to invest in performing corporate loans and mezzanine securities.
“Senior loans are an attractive asset class that can hold up well across market environments, particularly when focused on investing in companies with strong underlying credit fundamentals,” said Tom Connolly, the New York-based Global Head of the Private Credit Group. “We’re pleased to be able to offer meaningful corporate credit investment opportunities to individual clients through this Fund as we have done for our institutional clients through our Loan Partners family of funds.”
Senior Credit Partners II will pursue an investment strategy consistent with prior senior credit investing vehicles, with a primary focus on direct origination of performing senior corporate credit in North America and Western Europe. Through the Fund as well as other senior credit investing vehicles, the Private Credit Group is able to provide borrowers with customized direct lending solutions in size, flexibility across geographies and currencies, certainty and speed of execution, and known terms. Opportunities are sourced through MBD’s and Goldman Sachs’ global network of relationships.
Senior Credit Partners II is intended to provide individual clients of Goldman Sachs with access to the Private Credit Group’s senior credit investing opportunities. The Loan Partners family of funds will continue to provide institutions with access to our senior credit investing opportunities. In 2017, Goldman Sachs held the final close for Broad Street Loan Partners III, a $9.8 billion fund, including leverage.
About Goldman Sachs Merchant Banking Division’s Private Credit Group
Merchant Banking Division’s Private Credit Group has been a leading investor in private credit for over 20 years and has raised over $80 billion. Senior Credit Partners II is the fifteenth commingled corporate credit vehicle managed by MBD since 1996. In December 2018, Goldman Sachs’ private debt investing businesses were ranked first in Private Debt Investor’s “PDI 50,” which ranks managers by total capital raised over the last five years.
About Goldman Sachs Merchant Banking Division
MBD is the primary center for Goldman Sachs’ long term principal investing activity, investing in equity and credit across corporate, real estate and infrastructure strategies. Since its founding over 25 years ago, MBD has invested over $200 billion across these strategies. With nine offices in six countries around the world, MBD is one of the largest managers of private capital globally, offering deep expertise and long-standing relationships with companies, investors, entrepreneurs and financial intermediaries around the world.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.