June 23, 2024

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Goldman Sachs Alternatives raises $7 billion for West Street Real Estate Credit Partners IV fund

Goldman Sachs Alternatives raises $7 billion for West Street Real Estate Credit Partners IV fund

Goldman Sachs Alternatives announced Closing of its specialist real estate credit fund West Street Real Estate Credit Partners IV With a record fundraising of $7 billion, including leverage. As they explain, he was overcome The target of the planned fundraising is to integrate new investors including sovereign funds, US and global insurance companies, pension plans, family offices, Goldman Sachs private wealth management clients and employees of the entity.

Mortgage Credit Partners IVwhich will be the first fund in the series to disclose information under Article 8 of the European Sustainable Finance Disclosure Regulation (SFDR), has already I started investing in eight diverse projects around the world Total investment commitments to date amount to $1.8 billion.

The Authority notes that “the success of fundraising reflects the team’s strong record in granting loans to major real estate investors and developers in various markets, and providing them with customized and flexible credit solutions in high-quality projects and assets.”

Since 2008, Goldman Sachs has invested more than $20 billion of dollars in high-yield mortgage credit around the world. The real estate team consists of more than 250 professionals with offices in 19 cities and 11 countries. Properties in Goldman Sachs Alternatives leverage Goldman Sachs’ broader resources in sourcing, evaluating and implementing investments.

Jim Jarman, global head of real estate at Goldman Sachs Alternativesestimates that “in line with our thirty-year history of investing in different cycles, our real estate platform is designed to be dynamic in the face of changing circumstances. While our equity strategies provide clients with access to different opportunities across sectors and regions (addressing trends in technology and demographics and sustainability), credit has always been a very important component of our product portfolio, especially during periods of turmoil in the capital markets.

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For this part, Richard Spencer, CIO, Mortgage Credit, Goldman Sachs AlternativesHe points out that “the real estate credit market is characterized by a large and increasing imbalance between supply and demand. We believe this creates attractive opportunities for alternative credit sources that can provide assurance of scale and performance to borrowers. Closing one of the largest funds of capital dedicated to this opportunity allows us to continue the long history of Real Estate Credit Partners, which provides customized financing solutions to leading developers and owners of high-quality real estate in the United States. Europe and Australia.

finally, Jeff Fine, Global Co-Head of Alternative Capital Formation at Goldman Sachs Alternativesestimates that “As a solutions provider for the world’s most sophisticated investors, our real estate credit offering has become an increasingly important allocation for both institutional and high-net-worth clients. For investors looking for attractive risk-adjusted returns across cycles, real estate credit is an excellent means of credit diversification.” Private and exposure to real assets.