Goldman Sachs Private Credit represents one of the most significant players in the global alternative investment landscape, combining deep market expertise with extensive capital deployment capabilities. With over $199 billion invested in private credit solutions, Goldman Sachs provides flexible financing options across the capital structure to meet diverse client needs.
Their private credit platform leverages the firm’s 28+ years of experience in this sector alongside a global network of 205+ investment professionals to directly originate attractive risk-adjusted return opportunities[1]. As the private credit market continues its remarkable growth trajectory, Goldman Sachs has positioned itself at the forefront, announcing ambitious plans to more than double its private credit business to $300 billion over the next five years[7].
| Data Point | Details |
|---|---|
| Founded | 1869 (Private Credit division established 28+ years ago) |
| Headquarters | New York, NY |
| CEO | David Solomon |
| Employees | 45,300+ (including 205+ Private Credit investment professionals) |
| Ticker | NYSE: GS |
| Type of Firm | Global investment banking, securities and investment management firm |
| Key Divisions | Private Credit, Investment Banking, Global Markets, Asset Management, Consumer & Wealth Management |
| AUM (Total) | US$11.55 trillion (2024) |
| Private Debt AUM | US$86 billion (2024) |
Goldman Sachs is significantly expanding its private credit capabilities through strategic restructuring, including the recent creation of the Capital Solutions Group within its Global Banking & Markets division to better compete in financing large deals. This move reflects the firm’s recognition of private credit as “one of the most important structural trends taking place in finance,” according to CEO David Solomon. Additionally, Goldman has successfully raised more than $20 billion to invest in private credit, demonstrating strong investor confidence in their private credit strategy.
Goldman Sachs Private Credit invests globally across the entire capital structure, offering solutions from senior secured loans to hybrid capital instruments. This flexibility allows them to tailor financing options to specific client needs while optimizing risk-adjusted returns regardless of market conditions.
The firm combines the significant advantages of Goldman Sachs’s $3.1 trillion asset management platform with specialized execution capabilities. Their private credit team leverages access to capital through vast wealth channels, robust deal sourcing, a network of over 400 sponsors, and strong banking relationships to originate and structure optimal credit solutions[5].
Goldman’s private credit platform is led by seasoned professionals who average 20+ years of experience in credit markets. This deep expertise enables superior deal assessment, creative structuring solutions, and effective risk management throughout market cycles.
Goldman’s “One Goldman Sachs” approach creates powerful synergies between their Global Banking & Markets division and Asset & Wealth Management operations, positioning the firm at the intersection of capital providers and users in the private credit ecosystem.
Goldman Sachs organizes its operations across several major business segments, with Private Credit serving as a crucial component of its alternative investment capabilities:
Direct Lending: Provides tailored senior secured loans to middle-market and large corporations across North America, Europe, and Asia
Asset Finance: Structures specialized financing against physical and financial assets including infrastructure, real estate, and contractual cash flows
Investment Grade Private Credit: Delivers customized financing solutions to high-quality corporate borrowers seeking alternatives to traditional bank loans or public bond issuance
Hybrid Capital: Creates bespoke financing instruments combining debt and equity characteristics to optimize capital structure and flexibility
Investment Banking
Global Markets
Asset Management
Consumer & Wealth Management
Initiative: Creation of a specialized division combining financing, origination, structuring, and risk management capabilities
Strategic Impact: Positions Goldman to compete more effectively with dedicated private credit firms in large deal financing
Leadership: Pete Lyon and Mahesh Saireddy appointed to lead the new group, both joining Goldman’s management committee
Portfolio Value: $5.3 billion investment portfolio as of September 2024
Composition: 99.4% first lien senior secured loans with strong industry diversification
Capital Raising: Approximately $3.8 billion raised since inception with quarterly capital inflows averaging $750 million
Initiative: Formation of dedicated alternatives origination group within Capital Solutions
Focus Areas: Investment grade credit, leveraged loans, real estate, infrastructure, asset-backed finance, and private equity
Strategic Goal: Comprehensive sourcing capabilities across alternative asset classes
James Reynolds – Global Co-Head of Private Credit
Vivek Bantwal – Global Co-Head of Private Credit
Alex Chi – Co-Head of Direct Lending Americas, Co-CEO of Goldman Sachs BDC
David Miller – Co-Head of Direct Lending Americas, Co-CEO of Goldman Sachs BDC
Kevin Sterling – Global Head of Asset Finance and Investment Grade Private Credit
Beat Cabiallavetta – Global Head of Hybrid Capital
Stephanie Rader – Global Co-Head of Alternatives Capital Formation
Greg Watts – Head of Underwriting and Portfolio Management Americas
Amitayush Bahri – Co-Head Direct Lending Europe
Patrick Ordynans – Co-Head Direct Lending Europe
Moritz Jobke – Head of Hybrid Capital in Europe
Patrick Armstrong – Head of Hybrid Capital Americas
Som Krishna – Head of Asia Credit – Direct Lending and Hybrid Capital
Pete Lyon – Co-Head of Capital Solutions Group
Mahesh Saireddy – Co-Head of Capital Solutions Group
Goldman Sachs’s Private Credit division has established itself as a premier provider of customized financing solutions across the risk-return spectrum. The platform addresses a fundamental market need: as traditional banks face increased regulatory constraints, many corporate borrowers seek alternative sources of capital that offer certainty of execution, speed, and confidentiality.
The division’s capabilities span from conservative senior secured loans for blue-chip companies to more complex specialty finance and opportunistic credit strategies. Their investment approach combines rigorous fundamental credit analysis with creative structuring to optimize outcomes for both borrowers and investors.
Goldman Sachs Private Credit Corp., the firm’s private Business Development Company (BDC), exemplifies their institutional quality approach. With a $5.3 billion investment portfolio comprised almost entirely of first lien senior secured loans (99.4%), the vehicle maintains conservative leverage (0.38x gross leverage) while delivering attractive risk-adjusted returns[5]. As of September 2024, the BDC’s portfolio had exposure to diverse industries, with Software (15.3%), Financial Services (9.1%), and Commercial Services and Supplies (8.8%) representing the largest sectors.
For corporate clients, Goldman offers significant advantages over competing private credit providers. The firm’s ability to deploy its own balance sheet alongside third-party capital provides execution certainty on large transactions. Meanwhile, their global presence and sector-specialist teams deliver industry-specific insights that enhance credit assessment and structuring.
Industry sources suggest Goldman’s private credit culture blends traditional investment banking rigor with a more entrepreneurial approach than competitors. According to professional forums, the division attracts professionals who value the combination of Goldman’s institutional resources and the opportunity to build a rapidly growing business in one of finance’s most dynamic sectors.
Goldman Sachs to deepen exposure to booming private credit industry – Financial Times
Goldman creates new unit to capitalise on private credit boom – Alternative Credit Investor
Understanding Private Credit – Goldman Sachs Asset Management
Goldman Sachs pulls in more than $20bn to invest in private credit – Financial Times
Goldman Expands Private Credit Ambitions With Major Overhaul – Institutional Investor
