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Performance watch: Goldman Sachs’ Vintage funds

As the firm seeks $7bn for its latest flagship fund, we look at the performance of Goldman Sachs Asset Management's flagship secondaries vehicles so far.

How are the big firms in market performing? Secondaries Investor analyses their metrics to find out.

Goldman Sachs Asset Management is in market seeking $7 billion for its latest secondaries fund, Secondaries Investor revealed. The firm raised $15.1 billion for secondaries in the five years to 30 June 2018, according to our SI30 list of biggest fundraisers, placing it third after Ardian and Lexington Partners. It has launched private equity, early private equity and real estate secondaries funds since Vintage I in 1998.

The firm has spent some of the raised capital backing the $1.3 billion spin-out of NewView Capital from venture capital firm New Enterprise Associates, a single-asset restructuring on TDR Capital II and acquiring a $2 billion portfolio from Singapore sovereign wealth fund GIC.

The interactive chart below shows the firm’s private equity fund history, based on its results as of the end of February. Toggle between the tabs to see how the funds have fared by internal rate of return and multiple of invested capital. The bubbles are sized proportionately to the size of the fund; hover over them to see fund data.

The figures are from a fund marketing document shown to high-net-worth investors, obtained by Secondaries Investor. It is understood that these figures are slightly different to those shown to institutional investors, given differing levels of leverage.