Goldman Sachs launches private markets platform for wealthy clients

Goldman Sachs has launched a new alternative investments platform aimed at giving wealthy clients and family offices direct access to fast-growing private companies, according to an internal memo. The platform, led by Matt Doherty, includes a newly formed private company investments team and a secondary advisory group for trading private stakes. Goldman focuses on mature companies with proven products and substantial revenue, avoiding early-stage ventures. Surging interest in AI has driven demand for physical infrastructure like data centers. The move follows a record second quarter for Goldman, with quarterly revenue of $20.34 billion, up 39% year-over-year. The bank's wealth and asset management push reflects a broader Wall Street trend as startups stay private longer, allowing early investors to capture valuation gains before public markets. Goldman recently served as lead underwriter on the SpaceX IPO, valued at over $2 trillion.