Goldman Combines Private-Investing Units in Fundraising Push
- Bank seeking to raise more customer funds for business
- ‘We see opportunities to expand what we’re doing for clients’
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Goldman Sachs Group Inc. is finally embracing its status as a private equity giant.
The firm’s top executives in recent months have laid out plans to raise more client funds for private investing and rely less on its own balance sheet. As part of that effort, the bank will consolidate the investing activities of multiple units across the firm to add more heft to its merchant banking division, the firm said Monday in a memo to staff.