No. of Recommendations: 3
Goldman Sachs's (NYSE:GS) asset management business will pare back the $59B of alternative investments that contributed to lower 2022 earnings, Reuters reported Monday.
The bank plans to divest its positions in the next few years, and replace some of those funds on its balance sheet with outside capital, Julian Salisbury, chief investment of Asset & Wealth Management at Goldman, told Reuters in an interview.
"I would expect to see a meaningful decline from the current levels," he said.
seekingalpha.com - Goldman sachs asset management to trim alternative investments reportMore opportunities for Brookfield, and less competition bidding up prices for alt assets.
