.jpg){kind=avatar}
The Wall Street giant has started allowing certain asset-management clients—namely insurance companies—to invest alongside it when it loans money to borrowers including private-credit funds and nonbank lenders such as mortgage providers. The move is part of a plan to roughly double its private-credit assets under management to $300b in the next five years.
{
The private credit team will determine whether to invest clients’ money in these asset-backed loans after the financing team tells them which deals are available. The cross-divisional effort is part of a long-running push by Goldman Chief Executive David Solomon and President John Waldron to encourage employees to direct business to other units of the bank.
unknownx500
More posts by Sarah Wolter
Recent posts from News by FinTech Collective