Global investment bank Goldman Sachs has raised the biggest-ever private equity fund, weighing in at $20 billion (10 billion), the Telegraph reports.
Goldman, which is headquartered in New York, raised the money from a mixture of institutional clients and employees. The amount raised surpassed those of private equity house Blackstone, which confirmed last month in regulatory filings it has raised $18.1 billion.
The close of the Goldman fund comes almost a year after then chairman and chief executive Henry ‘Hank’ Paulson warned the firm that it should not be pursuing unsolicited bids for listed companies.
Details of the new fund include a split of $11 billion from institutional clients and high net worth individuals, with the remaining $9 billion coming from Goldman itself and its employees, including its pool of high-profile partners.