Goldman Sachs has collected more than $7 billion for a fund which purchases secondhand stakes in private equity funds, far exceeding its initial target.<br />
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The fund, called Vintage VII, is run out of the bank's asset management division and had initially sought to raise $5 billion in capital. Nearing its final close, the fund was oversubscribed and had to turn some potential investors away, one of the people said, asking not to be named because they are not authorized to speak to the media.