Goldman raises $2.75bn for Vintage VII

The investment bank took two months to surpass the halfway mark for its $5bn secondaries fund that will focus on buyout and distressed strategies in developed markets.

Goldman Sachs Asset Management (GSAM) has surpassed the halfway mark of the target for its latest secondaries fund around two months after its launch.

The investment bank’s Alternative Investments & Manager Selection (AIMS) unit has raised a total of $2.75 billion across three vehicles for its Vintage VII programme, according to filings with the US Securities and Exchange Commission.

Secondaries Investor reported in early July that the investment bank was preparing to hold the fund’s first close. Vintage VII, which will focus on buyout and distressed strategies in developed markets, launched in May with a $5 billion target, according to an investment document for the fund.

The SEC filings show the vehicles have attracted 1,736 investors in total and that no brokers were used.

The high number of investors is not unusual as the investment bank is likely to have included individual commitments from its own high net worth clients and Goldman employees who invested as individuals, according to a London-based lawyer who works on fund formation.

GSAM did not return requests for comment by press time.