Goldman Sachs Alternatives

What Goldman Sachs Alternatives does

Goldman Sachs Alternatives is the alternatives and private investments arm of Goldman Sachs Group Inc. (NYSE: GS), operating as a diversified alternatives platform with more than $625 billion in assets under management across private equity, growth equity, private credit, real estate, infrastructure, and sustainable investing. The platform serves institutional investors (pension funds, sovereign wealth funds, endowments, insurance companies), family offices and ultra-high-net-worth individuals, and through the G-Series suite distributed via Goldman Sachs Asset Management, qualified individual investors. Its product surface spans flagship private equity buyouts (e.g., Sila Services at approximately $1.7 billion), growth equity rounds in technology and healthcare companies (Taktile, Aidoc, Hightouch, Ramp, Grow Therapy, Fieldguide, Sage, ORO Labs), private credit facilities (Andion €67M biogas facility, Arevon $169M preferred equity, FGI Worldwide trade credit insurance), infrastructure and digital infrastructure investments (QScale AI data centers, CityFibre fiber, Arevon energy storage, Mace Consult), and impact-oriented inclusive growth strategies (Kashable, LearnWell under Horizon Inclusive Growth).

The business model is anchored on recurring management fees, typically 1.0% to 2.0% on committed or invested capital depending on strategy, supplemented by 20% carried interest above 8% preferred return hurdles in private equity and growth equity vehicles, transaction and advisory fees, and product distribution revenue from the G-Series wealth channel and the Innovator Defined Outcome ETF partnership. The firm distributes primarily through dedicated institutional coverage teams globally — New York headquarters, London and Hong Kong regional hubs — and through cross-sell across Goldman Sachs' Private Wealth Management, Investment Banking, and Ayco networks. The platform differentiates itself via the Goldman Sachs brand and balance sheet, the scale of its $625B+ alternatives AUM enabling large-check and platform-construction transactions, proprietary research and market intelligence, and operational support capabilities including CEO installation (e.g., Sami Altaher at FGI Worldwide, Nathan Rader at ORO Labs).

Recent strategic activity through 2024–2026 demonstrates a coordinated buildout across AI infrastructure and applied AI (QScale, Aidoc, Taktile, Ramp, Fieldguide, ORO Labs), regulated enterprise software (NAVEX Global, Schellman, Armis), trade credit and specialty finance (FGI Worldwide), environmental services (Liquid Environmental Solutions), healthcare services (Grow Therapy, Sage, LearnWell), home services (Sila Services), and consulting services (Mace Consult). Geographic expansion has been notable across the UK, Canada, Continental Europe, the Middle East, and Switzerland alongside the U.S. core.

Name

Goldman Sachs Alternatives

Legal name

Goldman Sachs Group Inc.

Website

https://gsam.com

Company type

Public

Founded year

1869

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Goldman Sachs Alternatives is the alternatives investment arm of Goldman Sachs Group (NYSE: GS), managing over $625 billion across private equity, growth equity, private credit, real estate, infrastructure, and sustainable investing for institutional investors, family offices, and qualified individuals globally.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399), Miscellaneous Intermediation (523910)

SIC

Investment Advice (6282)

akta.pro primary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

akta.pro secondary industries

Private Banking Alternatives & Private Markets Access (PE/VC, Hedge Funds, Real Assets) (FSABADAH), Financial Services / Fintech Growth Equity (FSANACAE)

Keywords

• Private equity investments
• Growth equity funds
• Private credit lending
• Infrastructure investing
• Sustainable investing strategies

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Management and Supervision Fees: Goldman Sachs Alternatives earns management fees based on assets under supervision (AUM/AUS), which serve as the primary recurring revenue base. With over $625 billion in alternatives assets referenced across multiple sources, fees are typically charged as a percentage of committed or invested capital across private equity, growth equity, private credit, real estate, and infrastructure strategies.
2. Performance Fees / Carried Interest: The firm earns performance-based fees (carried interest) on investment returns that exceed specified hurdle rates or benchmarks, typically 20% of profits above an 8% preferred return in private equity and growth equity strategies.
3. Transaction and Advisory Fees: Fees generated from structuring, executing, and advising on acquisitions, divestitures, recapitalizations, and financing arrangements for portfolio companies and co-investors across private equity and credit transactions.
4. Product Distribution (G-Series): Goldman Sachs Alternatives distributes alternative investment products to qualified individual investors through the G-Series platform (via Goldman Sachs Asset Management), enabling wealth advisors to allocate private markets exposure to high-net-worth clients, generating distribution-related revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Goldman Sachs Alternatives operates a global alternatives investment platform managing over $625 billion across private equity, growth equity, private credit, real estate, infrastructure, and sustainable investing strategies. The division invests directly in companies through control and minority buyouts, growth-stage rounds, project finance, and preferred equity, while also raising capital from institutional limited partners and offering qualified individual investors access to private markets via the G-Series wealth distribution platform.

Product overview

Goldman Sachs Alternatives is a global alternatives investment platform offering investment management across multiple asset classes including private equity, growth equity, sustainable investing, and private credit. The platform provides capital and strategic backing to portfolio companies across diverse sectors including technology, healthcare, fintech, infrastructure, and professional services.

Differentiator

Problem solved

Functional benefit

Brands

• Growth Equity: Growth equity investment arm focused on technology and healthcare growth companies
• Sustainable Investing
• Horizon Inclusive Growth
• Private Credit
• G-Series

Products and services

• Private Equity Funds Buyout, minority, and recapitalization investment funds targeting companies across home services, specialty finance, data center infrastructure, trade finance, consulting services, and accounting compliance sectors, offered to institutional limited partners and family offices.
• Growth Equity Funds
• Private Credit
• Real Estate and Infrastructure Funds
• Sustainable Investing Funds
• G-Series Alternative Investment Suite
• Active ETFs
• Defined Outcome ETFs (with Innovator) Defined Outcome ETFs offered through a partnership with Innovator combining Goldman Sachs Asset Management's investment capabilities with Innovator's structured ETF expertise, targeting financial advisors seeking defined-risk outcome strategies.

Quantifiable outcome

• Goldman Sachs Alternatives manages over $625 billion in alternatives assets across multiple strategies
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and major.

• AccenturecoreStrategic or Co-development Partner · 19 June 2026AlphaSense announced a strategic partnership with Accenture to bring its AI market intelligence platform to Accenture's Enterprise Transformation clients, with Accenture becoming AlphaSense's first strategic channel partner. Goldman Sachs Alternatives participated in AlphaSense's $350M Series G funding round.
• VisamajorStrategic or Co-development Partner · 4 June 2026Ramp deepened its partnership with Visa for AI-powered autonomous corporate payments as part of its expansion, with Goldman Sachs Alternatives participating in Ramp's $750M Series F at a $44B valuation.
• InnovatorcoreGTM or Marketing Partner · 5 May 2026Goldman Sachs Asset Management partnered with Innovator to offer Defined Outcome ETFs combining Goldman's investment capabilities with Innovator's structured ETF expertise, targeting financial advisors seeking defined-risk outcome strategies.
• Mace GroupcoreStrategic or Co-development Partner · 6 March 2026Goldman Sachs Alternatives completed a majority investment in Mace Consult, completing its carve-out from Mace Group. The transaction establishes Mace Consult as an independent company while maintaining the Mace brand and completing the separation from its parent organization.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Blackstone: The largest global alternative asset manager with ~$1.1T AUM across private equity, credit, real estate, and hedge fund solutions. Directly comparable multi-strategy platform with similar institutional and wealth distribution channels.
• KKR: Diversified alternatives manager with ~$650B AUM spanning private equity, credit, real assets, and insurance (Global Atlantic). Direct competitor in scaled PE buyouts, growth equity, infrastructure, and credit.
• Apollo Global Management: Alternative asset manager with ~$700B AUM, anchored in private credit and retirement services (Athene). Comparable in scale and in multi-strategy alternatives distribution to institutional and wealth clients.
• Brookfield Asset Management: Alternative asset manager focused on real assets, infrastructure, renewable energy, and private equity with ~$1T AUM. Direct competitor in infrastructure (CityFibre-style fiber investments) and renewable energy preferred equity (Arevon-style).
• Ares Management: ~$450B AUM alternatives firm concentrated in private credit, real estate, and private equity. Closest direct competitor to GS Alternatives' Private Credit and PE strategies with similar institutional LP base.
• Carlyle Group: Global alternative asset manager with ~$435B AUM across private equity, credit, and infrastructure. Comparable multi-strategy platform with overlapping portfolio company profile in financial services and business services.
• Bain Capital: Multi-strategy alternatives manager with strong private equity, credit, and venture franchises. Co-investor with Goldman Sachs Alternatives in Hightouch and competes for similar growth-stage and PE deals.
• TPG: Alternative asset manager with ~$240B AUM across private equity, growth, credit, and real estate. Comparable in growth equity and PE strategies targeting technology and healthcare verticals.
• CVC Capital Partners: European-headquartered alternatives manager with ~€193B AUM spanning PE, credit, and infrastructure. Comparable in cross-border PE/credit deal flow and EMEA institutional fundraising.

Emerging players

• StepStone Group: Multi-strategy alternatives platform of funds and co-investments with ~$170B AUM. Comparable secondaries/co-investment capabilities relevant to GS Alternatives' portfolio construction and LP co-invest offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/goldmansachs
• YouTubeyoutube.com/user/goldmansachs
• Facebookfacebook.com/goldmansachs
• LinkedInlinkedin.com/company/goldman-sachs
• Instagraminstagram.com/goldmansachs

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A16 records

Investments82 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goldman Sachs Alternatives