Goldman Sachs Asset Management has raised over $200 million in its inaugural european long-term investment fund (Eltif), Private Markets ELTIF 2023.
The fund intends to expose investors to a wide range of sectors and strategies, primarily focusing on private equity investments while including a smaller allocation to higher-yielding private credit.
The fund is designed for high-net-worth investors able to make longer-term illiquid investments. It will be fully funded at launch, with a short expected investment period.
Launching the Private Markets ELTIF 2023 marks the first step in a series of Eltifs by the asset manager, enabling individual investors to reap private market performance and diversification benefits.
Barry Fricke, Emea head of alternatives distribution for wealth at Goldman Sachs Asset Management, said, “Institutional investors have long benefitted from private investments, which have the potential to provide higher returns, portfolio diversification and access to unique opportunities. Now, individuals will also be able to get exposure to private investments through our Private Markets ELTIF, a fund specifically designed to meet the needs of individual investors.
“This fund is part of a broad and deep commitment to open up our private markets business to suitable individual investors through innovative and high-quality products, supported by education and training for our wealth management distribution partners.”
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