Welcome to our dedicated page for Goldman Sachs Group news (Ticker: GS), a resource for investors and traders seeking the latest updates and insights on Goldman Sachs Group stock.
Goldman Sachs Group Inc. (symbol: GS) is a leading global investment banking and financial services company headquartered in New York City. Founded in 1869, Goldman Sachs has built a strong reputation for providing a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals.
Core Business Segments:
- Investment Banking: Generating approximately 20% of its revenue, the firm offers advisory services for mergers and acquisitions, underwriting of securities, and capital raising.
- Trading: With around 45% of its revenue stemming from trading, Goldman Sachs engages in market-making activities, securities lending, and other financial trading operations.
- Asset Management: Asset management contributes roughly 20% to the company's revenue. This segment offers investment advisory and financial planning services.
- Wealth Management and Retail Financial Services: Retail financial services and wealth management account for about 15% of the company's income, providing personalized investment solutions to individual investors.
The company operates globally, with around 60% of its net revenue generated in the Americas, 15% from Asia, and 25% from Europe, the Middle East, and Africa. This broad geographic reach allows Goldman Sachs to leverage its extensive market knowledge and establish a strong presence worldwide.
Recent Achievements and Projects:
Goldman Sachs has been actively involved in numerous high-profile transactions and projects. For instance, the company recently played a significant role in the recapitalization transaction of Transcendia Holdings, Inc. This move, led by Goldman Sachs Asset Management, provided Transcendia with $114 million in new capital and eliminated over $200 million of its debt, significantly strengthening the company’s financial position and competitive market stance.
Moreover, Goldman Sachs Alternatives, a segment of the firm, continues to grow its extensive portfolio of alternative investments, with over $450 billion in assets under management. This segment focuses on private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds, thereby reinforcing Goldman Sachs’ strategic investment capabilities.
Financial Condition and Partnerships:
Goldman Sachs remains financially robust, supported by a diverse revenue stream and steady growth across its business segments. The firm's partnerships with other notable entities, such as Industrial Opportunity Partners and General Atlantic Credit, further boost its market position, enabling it to provide tailored capital solutions and strategic investments.
Despite the challenges posed by global market fluctuations, Goldman Sachs continues to demonstrate resilience and adaptability, driven by its commitment to innovation and excellence in financial services.
For more detailed updates and news, visit the official site and stay informed about the latest developments at Goldman Sachs.
Goldman Sachs Custody Solutions (GSCS) and NewEdge Capital Group have announced a strategic collaboration to enhance services for Registered Investment Advisors (RIAs). GSCS will serve as a preferred custodian for NewEdge Wealth and NewEdge Advisors, subdivisions of NewEdge Capital Group. This partnership aims to deliver industry-leading service and support to address the evolving needs of sophisticated advisors and their clients.
Two NewEdge teams, Fortis Wealth Advisors and Lehigh Valley, have already selected GSCS as their primary custodian. The collaboration combines GSCS's institutional capabilities with NewEdge Capital Group's infrastructure to support next-gen talent and create a unique environment for advisors looking to elevate their services. Both companies emphasize their commitment to providing high-level services for clients with complex needs and empowering advisors with digital-forward custodial solutions and institutional support.
Star Mountain Capital, an investment firm with over $4.0 billion AUM focused on the lower middle-market, has announced that Peter K. Scaturro has joined as Senior Advisor. Scaturro brings 40+ years of experience in banking, wealth management, and financial services leadership. He was previously a Partner at Goldman Sachs (NYSE: GS) Global Private Client Business and CEO of Citigroup Global Private Bank. Star Mountain's Founder & CEO, Brett Hickey, expressed excitement about Scaturro's addition, citing his extensive leadership experience across multiple cycles as beneficial to all stakeholders. Scaturro highlighted the lower middle-market as a compelling opportunity for investors seeking to complement traditional portfolios.
Goldman Sachs BDC (NYSE: GSBD) reported its Q2 2024 financial results, showing net investment income per share at $0.59 and an adjusted net investment income per share of $0.57. Earnings per share were $(0.47), with a 6% decrease in NAV per share to $13.67. Total investments at fair value were $3.998 billion, with a portfolio primarily comprised of senior secured debt (98%). Gross originations were $440 million, with net funded investment activity of $180.1 million. Two portfolio companies were placed on non-accrual status, representing 3.4% of the portfolio at fair value. The net debt-to-equity ratio increased to 1.19x. The Board declared a quarterly dividend of $0.45 per share, payable on October 28, 2024. During the quarter, GSBD raised approx. $69.2 million through share issuance. The total investment income decreased to $108.6 million, primarily due to investments on non-accrual status. Net realized and unrealized losses were $121.4 million.
Goldman Sachs Alternatives has made a $440 million strategic investment in BrightNight, a leading renewable power company. This investment, along with existing capital commitments, is expected to fully fund BrightNight's five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio. The investment strengthens BrightNight's position as a leading U.S. renewable power platform and adds an established partner with deep energy transition experience.
The transaction is set to close in September 2024. BrightNight's proprietary AI software platform, PowerAlpha®, enhances its project portfolio. The company aims to provide utility and commercial customers with clean, dispatchable renewable power solutions. Global Infrastructure Partners (GIP) will continue to support BrightNight with its existing capital commitment and maintain its minority equity interests.
osapiens, a leading ESG Platform provider, has secured a $120 million Series B funding round led by Growth Equity at Goldman Sachs Alternatives. The funds will be used to accelerate international expansion and further invest in their technology platform. Goldman Sachs Alternatives has acquired a minority stake in osapiens, joining existing investor Armira Growth.
osapiens' core offering, the osapiens HUB, is an AI-powered cloud-based platform that simplifies compliance with international ESG regulations. The platform enables companies to identify and mitigate risks in operations and supply chains, and reduce manual workloads through process automation. osapiens supports over 1,300 customers worldwide, including major corporations like Bosch, Coca Cola North America, and Costco. The company experienced rapid growth in 2023, with its customer base expanding by 473%.
Betterment and Goldman Sachs Asset Management have launched the Goldman Sachs Tax-Smart Bonds portfolio, an industry-first offering designed to generate after-tax yield for investors in higher tax brackets. This innovative portfolio combines short-duration US Treasury bonds, high-quality corporate bonds, and municipal bond ETFs, with Betterment personalizing allocations based on individual tax situations.
The strategy adapts to market conditions and taxable equivalent yields monthly, considering events that might create volatility. This collaboration leverages Goldman Sachs' expertise in bond markets and Betterment's automation to provide a potentially lower-risk alternative to equity investing for long-term wealth building.
Calvert Impact has launched Access by Calvert Impact, a national initiative to provide small businesses with better access to credit, backed by a $140 million warehouse credit facility from Goldman Sachs Alternatives' Urban Investment Group. This program leverages funds from the State Small Business Credit Initiative and private investments to support community lenders in New York, New Jersey, Nevada, and Washington. Designed to assist socially and economically disadvantaged business owners, Access aims to alleviate longstanding liquidity issues in the community development financial institutions (CDFI) sector. Supported by grants from Citi Foundation and Wells Fargo Foundation, the program sells aggregated business loans on the secondary market to generate new capital. More than 80% of supported businesses identify as SEDI (socially and economically disadvantaged individuals). Calvert Impact will continue to expand this program across the US.
Goldman Sachs BDC (NYSE: GSBD) announced it will report its financial results for the second quarter ending June 30, 2024, after the market closes on August 8, 2024. The company will host an earnings conference call the next day, August 9, 2024, at 9:00 am Eastern Time to discuss these results. Interested parties can participate via telephone or an audio webcast available on the Investor Resources section of the GS BDC website. Domestic listeners can dial (800) 289-0459, while international callers should use +1 (929) 477-0443, referencing conference ID 427709 for listen-only access. For Q&A participation, domestic callers can dial (866) 575-6539 and international callers can use +1 (929) 477-0448, referencing conference ID 2384559. An archived replay will be available on the same website link.
On July 9, 2024, TAIT, a leader in live experiences, announced that Goldman Sachs Alternatives' Private Equity Business will acquire a majority stake in the company from Providence Equity Partners and other investors. The deal awaits regulatory approvals, and financial details were not disclosed.
TAIT's CEO, Adam Davis, noted that the partnership with Goldman Sachs will help the company expand its global reach and innovation capabilities. Goldman Sachs' expertise in media, entertainment, and technology will support TAIT's growth.
Goldman's Leonard Seevers expressed confidence in TAIT's potential for growth in the evolving entertainment sector. The TAIT management team will continue leading the company and remain significant shareholders.
Providence Equity Partners supported TAIT through significant growth and pandemic challenges over the past five years.
Canoe Intelligence announced raising $36 million in a Series C funding round led by Goldman Sachs, with participation from F-Prime Capital and Eight Roads. This funding increases Canoe's valuation by over three times since its Series B in 2023, marking a significant milestone for the company's growth.
The capital will be used to advance Canoe's AI-driven financial technology platform for alternative investors, enhancing its back-to-front office capabilities. The company has achieved 100% year-over-year growth in clients and revenue, and serves over 1,000 LPs with its automated data management solutions.
Goldman Sachs highlighted Canoe's potential in streamlining alternative investment data, noting the firm's extensive client base, which includes Blackstone and Hamilton Lane. Canoe's technology processes over 25 million documents annually, significantly boosting operational efficiency.
FAQ
What is the current stock price of Goldman Sachs Group (GS)?
What is the market cap of Goldman Sachs Group (GS)?
What is Goldman Sachs Group Inc.?
What are the main business segments of Goldman Sachs?
How much revenue does Goldman Sachs generate from trading?
What recent project has Goldman Sachs been involved in?
Where does Goldman Sachs generate most of its net revenue?
What services does Goldman Sachs offer in the Asset Management segment?
What percentage of revenue does Goldman Sachs derive from Investment Banking?
How does Goldman Sachs support corporate clients?
What is Goldman Sachs Alternatives?
How does Goldman Sachs maintain financial stability?
