LPNEWS
Goldman Sachs' merchant banking division has been ground zero for CEO David Solomon's push to build an alternatives investing powerhouse by attracting third-party funds. The firm is planning to raise at least $100 billion over the next five years from outside investors, including many public pension funds that haven't previously given their funds to Goldman. The strategy has meant a shift away from investing from its own balance sheet and required a combining of several disparate teams from across the company. While the merging of teams led to some turnover, the management team has stabilized in recent months.

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