Goldman shops growth portfolio – exclusive

The investment bank's GSIP unit is exploring the sale of stakes in 15 companies, Secondaries Investor has learned.

Goldman Sachs Investment Partners, the investment bank’s opportunistic multi-disciplinary investment unit, is trying to offload a portfolio of mainly direct growth equity stakes as it narrows its investment focus, Secondaries Investor has learned.

The unit has hired advisor Evercore to explore the sale of stakes in 15 companies worth between $100 million and $500 million, according to two sources familiar with the matter. The assets span industrials, consumer, real estate, TMT and power industries across the globe.

The investments comprise minority and majority stakes that were made between 2006 and 2012 and are held in several vehicles, one of the sources said.

It is understood the deal is in the early stages and Evercore is yet to reach out to potential buyers.

Goldman is exploring the sale because its investment focus has narrowed to consumer internet, digital media and software, one of the sources said. GSIP’s portfolio includes stakes in Facebook, Uber, Pinterest and Spotify, according to its website.

Direct secondaries, comprising GP restructurings, single minority stakes and co-investments, jumped 79 percent to $18 billion last year, according to a January survey by Setter Capital.

GSIP has invested more than $6 billion in private deals since 2003, according to its website.

Goldman Sachs and Evercore declined to comment.