Goldman Sachs Alternatives has completed the closing of its real estate credit fund, West Street Real Estate Credit Partners IV, raising a record $7 billion, including leverage. The fund has exceeded its initial fundraising target, attracting a diverse range of new investors including sovereign wealth funds, insurance companies, US and international pension plans, family offices, Goldman Sachs Private Wealth Management clients and employees of the firm.
West Street Real Estate Credit Partners IV is notable for being the first fund in the series to comply with Article 8 of the European Sustainable Finance Disclosure Regulation (SFDR), and has already begun deploying capital in eight diversified projects around the world, committing $1.8 billion in investment to date.
Since 2008, Goldman Sachs has invested more than $20 billion in high-yielding real estate credit globally. The Real Estate team at Goldman Sachs Alternatives, comprised of more than 250 professionals in 19 cities in 11 countries, utilises Goldman Sachs' extensive resources to identify, evaluate and execute investments.
The company has indicated that the funds will be allocated to real estate projects in the United States, Europe and Australia. Jim Garman, Global Head of Real Estate at Goldman Sachs Alternatives, said that, in line with the firm's thirty-year track record of investing through diverse economic cycles, its real estate platform is designed to adapt dynamically to changing market conditions.
Garman also adds that while its equity strategies offer clients access to unique opportunities across sectors and regions, responding to trends in technology, demographics and sustainability, credit has always been an essential component of its portfolio, especially crucial during periods of capital market turbulence.
