Goldman Sachs Group’s asset management arm has raised one of the largest pools of capital targeting stakes in private real-estate funds, benefiting from investors’ desire to take advantage of mounting liquidity problems among other investment managers and their limited partners.
The New York firm said it has collected $3.4 billion for its Vintage Real Estate Partners III fund and related vehicles, around 23% more than the $2.75 billion it brought in for a predecessor pool when it wrapped up in 2020. In May, Goldman finished raising $7 billion to lend to real-estate investors and developers, a market the bank’s asset manager sees as undercapitalized.
Source: WSJ
