Goldman Sachs Group Inc Stock Price, News & Analysis

Goldman Sachs Alternatives and Dalfen Industrial have expanded their partnership through the acquisition of a 21-building logistics portfolio spanning 2.1 million square feet. The off-market deal includes strategic assets across Dallas, Las Vegas, Cincinnati, and Pennsylvania. The portfolio, which is 92% leased to 68 tenants including Amazon, Red Bull, and Packaging of America, was acquired below replacement cost.

The partnership between Dalfen Industrial and Goldman Sachs now encompasses 94 buildings and 19 million square feet in major U.S. markets. The acquisition aligns with their strategy to invest in assets benefiting from e-commerce growth, onshoring, and supply chain disaggregation in locations with favorable consumer and labor market dynamics.

GridStor, a developer of utility-scale battery energy storage systems, has acquired a 100 MW / 400 MWh battery storage project in Arizona from Capacity Power Group (CPG). The acquisition aims to address rising power demands from residential and industrial customers in the region.

This marks GridStor's third acquisition in the past year. The company, backed by Goldman Sachs Asset Management, develops and operates battery facilities integrated with American power infrastructure to store and deliver electricity during peak demand periods.

The project comes at a important time for Arizona as utilities project increasing capacity needs. GridStor's CEO Chris Taylor emphasized that battery storage provides a scalable, near-term solution to power historic load growth in the state, while supporting grid stability during peak demand hours.

GridStor has acquired a 200 MW / 800 MWh battery storage project in Oklahoma from Black Mountain Energy Storage (BMES). The project will be developed in two phases and aims to address the Southwest Power Pool's (SPP) urgent need for new power resources by 2030.

The acquisition is strategically positioned in Eastern Oklahoma, where multiple data centers are operating and developing, creating increased demands on regional power infrastructure. The project will enhance grid resilience and ensure reliable power supply through participation in the SPP-managed electricity market.

This marks GridStor's second acquisition in the past year. The company, backed by Goldman Sachs Asset Management, develops and operates battery facilities integrated with American power infrastructure, focusing on regions with growing energy demand and increasing grid reliability needs.

Goldman Sachs BDC (NYSE: GSBD) has announced it will release its fourth quarter and fiscal year 2024 financial results after market close on Thursday, February 27, 2025. The company will host an earnings conference call on Friday, February 28, 2025 at 9:00 am Eastern Time.

The earnings call will be accessible via telephone and audio webcast through the Investor Resources section of GSBD's website. Listen-only participants can dial (800) 289-0459 (domestic) or +1 (929) 477-0443 (international) with Conference ID 427709. Q&A participants should use (866) 575-6539 (domestic) or +1 (929) 477-0448 (international) with Conference ID 6703057.

CIS has secured a second tranche of private financing from Goldman Sachs Alternatives' Urban Investment Group (UIG) to expand stormwater infrastructure in Greater Milwaukee. The funding will support the Fresh Coast Protection Partnership (FCPP) with Milwaukee Metropolitan Sewerage District (MMSD), targeting the management of 11.5 million gallons of stormwater runoff.

The initiative has already delivered or is working on eighteen green infrastructure projects across Milwaukee, with 93% on private properties and nearly 50% in low-to-moderate income areas. Notable achievements include 46% of work led by local, small, women-, minority-, and veteran-owned businesses. A key project example is Davidson Park at Harley-Davidson headquarters, which can capture 225,000 gallons of stormwater per rain event.

The partnership aligns with MMSD's 2035 Vision targeting 740 million gallons storage capacity, of which over 100 million gallons has been achieved, with CIS contributing more than 10% in the past five years.

Float Financial, a Canadian business finance platform, has secured a CAD $70 million Series B financing round led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys, and Garage Capital. This funding, combined with a CAD $50 million credit facility announced in February 2024, brings total funding to over CAD $120 million in the past year.

Since their November 2021 Series A, Float has achieved remarkable growth metrics: 45x growth in total payment volume, 50x revenue growth, 30x increase in assets under management, and 140x expansion in credit issuance. The company serves 4,000 businesses, including prominent brands like Jane Software, LumiQ, and Knix.

Float plans to use the new capital to expand its product suite, attract talent, and strengthen its leadership in the Canadian market. The company offers expense management software, corporate cards in CAD and USD, high-yield accounts, and next-day fund transfers.

Ontario Teachers' Pension Plan has made an investment in Omega Healthcare Management Services, joining Goldman Sachs Alternatives as co-lead investors. Omega, founded in 2003, is a technology-enabled healthcare management solutions provider with approximately 35,000 employees across 14 delivery centers in the US, India, Colombia, and the Philippines.

The company specializes in helping healthcare institutions improve financial performance and patient care through technology-enabled and clinically-led solutions. Goldman Sachs Alternatives has been an investor in Omega since 2019. The partnership aims to accelerate Omega's growth and strengthen its market position, particularly in Provider, Payer, and Pharma markets. Financial terms were not disclosed.

Goldman Sachs Asset Management has announced the liquidation of three ETFs: the Goldman Sachs Bloomberg Clean Energy Equity ETF, North American Pipelines & Power Equity ETF, and Future Real Estate and Infrastructure Equity ETF. The liquidation process begins immediately following board approval. Trading will cease on January 10, 2025, with final liquidation expected around January 17, 2025.

Shareholders can sell their shares on the respective exchanges (Cboe BZX and NYSE Arca) until market close on January 10, 2025. Those holding shares until the liquidation date will receive cash equal to the net asset value. The funds will stop accepting creation orders from Authorized Participants on January 10, 2025. Goldman Sachs Asset Management currently oversees approximately $3.1 trillion in assets under supervision as of September 30, 2024.

Spectro Cloud has secured a $75 million Series C funding round led by Growth Equity at Goldman Sachs Alternatives. The company, specializing in multi-cluster Kubernetes management, has achieved triple-digit Annual Recurring Revenue (ARR) growth for three consecutive years. The funding will support product innovation, particularly in edge computing, enhance customer experience, and expand partnerships. The company's Palette platform serves various industries including technology, manufacturing, retail, healthcare, and defense, helping organizations manage Kubernetes deployments across data centers, cloud, and edge environments.