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Goldman readies US$30 billion for alternative investments in Asia

Bloomberg
Bloomberg11/11/2021 8:53 AM GMT+08  • 6 min read
Goldman readies US$30 billion for alternative investments in Asia
Besides investing in enterprise software and financial services technology, Goldman is also betting on consumer and healthcare
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Goldman Sachs Group Inc. is set to plough at least US$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 US$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.

The challenge for Hui is deploying the money at a time when cashed-up rivals are bidding up valuations. Private equity firms must also navigate a Chinese regime increasingly suspicious of U.S. investments in its most-sensitive sectors, closing off once attractive targets, as well as a broad crackdown on large parts of its private sector.

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