Goldman Sachs Closes GS Mezzanine Partners III at $2.7 Billion - Largest Mezzanine Fund Ever Raised
"Goldman Sachs is proud to continue its tradition of raising large private equity funds to meet the needs of our investors and our partners," said Richard A. Friedman, Managing Director and Head of Goldman Sachs' Principal Investment Area. Goldman Sachs is one of the largest private equity investors in the world, having raised over $17 billion in capital in 10 funds since 1986. "With GS Mezzanine Partners III, Goldman Sachs is uniquely positioned to provide one-stop mezzanine financing and to partner with sizeable equity investors to structure complex transactions."
"We take a partnership approach to mezzanine investing and we work hard to build long-term relationships with preeminent equity sponsors, management teams and placement agents," added Muneer Satter, Managing Director and Head of the Mezzanine Group in Goldman Sachs' Principal Investment Area. "The size of GS Mezzanine Partners III will enable us to take a more active role in the larger transactions that are prevalent in today's market environment."GS Mezzanine Partners III will invest across a wide range of transactions varying by industry, geography, currency, size of investment and structure. The Fund will target investments in the $40-200 million range in North America and Europe. Goldman Sachs began mezzanine investing in 1996 with the formation of GS Mezzanine Partners I with $1.2 billion in available capital, and formed GS Mezzanine Partners II in 2000 with $1.3 billion in available capital. All three GS Mezzanine Partners funds were formed with capital from institutional and individual investors, as well as Goldman Sachs and its employees.
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.