Goldman Readies $30 Billion for Alternative Investments in Asia
- Bank is shying away from dominant firms after China crackdown
- Goldman triples return on investment in Asia growth companies
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Goldman Sachs Group Inc. is set to plow at least $30 billion into Asian alternative assets over the next five years after revamping its operations and starting an aggressive campaign to raise outside funds in a bid to overtake investment giants such as KKR & Co. and Blackstone Inc.
In Asia, that means doubling investments to about $60 billion, betting on technology startups, real estate, consumer and renewable energy, said Stephanie Hui, the bank’s co-head of alternative investing in the region.