We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Goldman (GS), Omers Partner for Private Credit in Asia Pacific
Read MoreHide Full Article
The Goldman Sachs Group, Inc.’s (GS - Free Report) asset management arm, Goldman Sachs Asset Management (“GSAM”), is collaborating with the Ontario Municipal Employees Retirement System to co-invest in private credit transactions in the Asia Pacific region.
The companies will primarily invest in senior direct lending opportunities in Asia Pacific, with the flexibility to also invest in mezzanine and hybrid transactions. The funds will be deployed through a separately managed account, which will be handled by GSAM’s private credit Asia business.
A number of financial institutions have been making efforts to enter into the $1.5-trillion global private credit market, given attractive opportunities and high demand in the space.
Management at Omers noted, “The expansion of our existing relationship with Goldman Sachs into Asia will position us well to further unlock these opportunities.”
Particularly, loans from direct-lending funds often carry a higher interest rate than traditional bank loans, making it attractive for private capital providers. Moreover, with higher interest rates and tight credit conditions, banks have also been eyeing opportunities to tap the market. Stricter regulation and increased costs have compelled banks to re-evaluate the types of loans and services they provide. Hence, the move is a strategic fit for GS.
Goldman’s shares have inched up 0.8% in the past six months against the industry’s decline of 0.4%.
Wells Fargo & Company (WFC - Free Report) recently announced entering into a strategic relationship with private equity firm Centerbridge Partners to provide direct lending to non-sponsor middle-market companies in North America.
Wells Fargo will be a minority investor in the initiative and will offer the loans to existing customers as an alternative to other financing options. The fund will leverage WFC’s long-term relationships, extensive client network and preeminent position in the U.S. middle market and asset-based lending space.
Earlier this month, Societe Generale SA partnered with Brookfield Asset Management Ltd. (BAM - Free Report) to start a $10.7 billion private debt fund. Brookfield and Societe Generale are expected to focus on real assets credit and fund finance.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Goldman (GS), Omers Partner for Private Credit in Asia Pacific
The Goldman Sachs Group, Inc.’s (GS - Free Report) asset management arm, Goldman Sachs Asset Management (“GSAM”), is collaborating with the Ontario Municipal Employees Retirement System to co-invest in private credit transactions in the Asia Pacific region.
The companies will primarily invest in senior direct lending opportunities in Asia Pacific, with the flexibility to also invest in mezzanine and hybrid transactions. The funds will be deployed through a separately managed account, which will be handled by GSAM’s private credit Asia business.
A number of financial institutions have been making efforts to enter into the $1.5-trillion global private credit market, given attractive opportunities and high demand in the space.
Management at Omers noted, “The expansion of our existing relationship with Goldman Sachs into Asia will position us well to further unlock these opportunities.”
Particularly, loans from direct-lending funds often carry a higher interest rate than traditional bank loans, making it attractive for private capital providers. Moreover, with higher interest rates and tight credit conditions, banks have also been eyeing opportunities to tap the market. Stricter regulation and increased costs have compelled banks to re-evaluate the types of loans and services they provide. Hence, the move is a strategic fit for GS.
Goldman’s shares have inched up 0.8% in the past six months against the industry’s decline of 0.4%.
Image Source: Zacks Investment Research
GS presently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wells Fargo & Company (WFC - Free Report) recently announced entering into a strategic relationship with private equity firm Centerbridge Partners to provide direct lending to non-sponsor middle-market companies in North America.
Wells Fargo will be a minority investor in the initiative and will offer the loans to existing customers as an alternative to other financing options. The fund will leverage WFC’s long-term relationships, extensive client network and preeminent position in the U.S. middle market and asset-based lending space.
Earlier this month, Societe Generale SA partnered with Brookfield Asset Management Ltd. (BAM - Free Report) to start a $10.7 billion private debt fund. Brookfield and Societe Generale are expected to focus on real assets credit and fund finance.