Goldman Sachs Reports Private Equity Paying Off

Goldman Sachs's growing private equity business has brought in massive profits over the past two years, sending other investment banks rushing to emulate its model, The New York Times Reports. The bank has seen banks such as Merrill Lynch report

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Goldman Sachs’s growing private-equity business has brought in massive profits over the past two years, sending other investment banks rushing to emulate its model, The New York Times Reports.

The bank has seen banks such as Merrill Lynch report that private-equity profits gave a significant boost to second-quarter returns, including its $31.6 billion purchase of the HCA hospital chain, marking the largest private-equity agreement ever.

Goldman Sachs has more than $20 billion in private-equity funds under its management, and has reportedly been looking to raise capital for a thirteenth fund. The new fund has the potential to exceed the record Blackstone Group fund that raised more than $15 billion.

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