Goldman Sachs is establishing a new Capital Solutions Group to expand its financing operations and compete with the growing influence of private credit funds. The unit will focus on serving private credit and private equity funds, structuring leveraged buyouts and other transactions they finance.
Goldman Sachs has said it will build a new unit to expand its financing operations, as the bank looks to combat mounting competition from private credit funds and better position itself to lend to the alternative investment behemoths that now dominate Wall Street .
At the same time, Goldman is also trying to woo those same firms as clients, including providing them financing for deals. Goldman said the new group would be led by Peter Lyon, who had previously been the New York group’s top banker to other financial firms, and Mahesh Saireddy, who had headed up the mortgage and structured finance division. The two executives are being added to the firm’s management committee. Goldman has already expanded its lending to private equity and credit funds.
PRIVATE CREDIT BANKING GOLDMAN SACHS FINANCING WALL STREET
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