Goldman raises at least $3.4bn for secondaries

Vintage Fund VI, which has been targeting $5bn, was expected to close in mid-June.

Goldman Sachs has raised $3.4 billion for its sixth secondaries fund, and was expected to hold a final close in mid-June, according to documents from the Surrey Pension Fund Board.

The Surrey board met in May to discuss potential commitments, one of which was Goldman Sachs Asset Management Vintage Fund VI. The council was considering making a $20 million commitment to the fund.

Goldman Sachs declined to comment. A filing with the US Securities and Exchange Commission revealed that Goldman had raised $2.27 billion for Fund VI. The filing indicated the vehicle has 1,043 investors.

Vintage VI is opportunistic in nature and buys interests in private equity funds and companies from sellers trying to achieve liquidity for their positions, according to documents from the Surrey fund.

The fund is expected to focus on mid-market across all industries, with an opportunistic geographic focus, though traditionally the fund family’s focus has been allocated more to North America, which also is expected to be the case with the sixth fund, the documents said.