Goldman Sachs Alternatives, part of Goldman Sachs Asset Management, has launched an open-ended, semi-liquid European private credit strategy to expand access to its alternatives platform for qualified and professional individual investors.
Seeking to build portfolios of directly originated, senior secured debt from medium to large-size borrowers, the strategy targets “companies with defensive positions in non-cyclical, recession-resilient industries”.
Exploring new opportunities: Private credit in European financing
GSEC was seeded in Q4 2023 and has attracted interest with more than €550m equity raised from investors to date. At present, the strategy, which has paid its first distribution to investors, has committed to 23 private credit portfolio companies.
The launch of GSEC follows the closure of Private Markets Eltif 2023, aiming to offer individual investors direct access to private market investments managed by Goldman Sachs Asset Management. Launched last year, Private Markets Eltif 2023 provides direct exposure to various sectors and strategies within private markets.
Private Markets 2023-2024: The Flight to Quality
James Reynolds, global head of direct lending at Goldman Sachs Alternatives, said: “We continue to see the European private credit market as an active source of stable returns for investors and are pleased to continue finding ways for investors to access these markets.”
Stephanie Rader, global co-head of alternatives capital formation at Goldman Sachs Alternatives, said: “Similar to the US, we’ve seen significant investor demand for an open-ended semi-liquid private credit product and we are continuously developing solutions to satisfy that demand.”
