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Goldman Sachs Group Inc. (GS) is a global financial services leader specializing in investment banking, asset management, and institutional trading. This page serves as a comprehensive resource for tracking the company's official announcements, strategic initiatives, and market-moving developments.
Investors and professionals will find curated updates on earnings reports, mergers and acquisitions, regulatory filings, and leadership changes. The content collection enables users to monitor GS's responses to market trends, compliance updates, and competitive positioning within global finance.
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Goldman Sachs Asset Management (GSAM) announced an updated liquidation timeline for the Goldman Sachs Defensive Equity ETF (GDEF). Effective from June 12, 2024, the fund will liquidate its portfolio assets orderly. Shareholders can sell their shares on NYSE Arca until market close on July 3, 2024, but may incur transaction fees. Post-July 3, the shares will be delisted. Remaining shareholders as of the expected liquidation date, July 8, 2024, will receive a cash payout equal to the net asset value of their shares, leading to potential capital gains or losses for tax purposes. The fund will stop accepting creation orders on July 3, 2024. GDEF, originally an open-end mutual fund, seeks long-term growth with lower volatility using a “Put Spread Collar” strategy, though it involves market risks and high portfolio turnover, resulting in higher expenses and potential short-term capital gains.
Goldman Sachs Asset Management (GSAM) has announced that the Board of Trustees has approved a plan to liquidate the Goldman Sachs Defensive Equity ETF (GDEF). Effective immediately, the fund will begin liquidating its assets. Shareholders can sell their shares on NYSE Arca until market close on July 12, 2024. After this date, shares will be delisted and liquidating distributions will be made on or around July 19, 2024. The liquidation plan does not require shareholder approval, and transaction fees may apply for selling shares. The fund, which focuses on long-term capital growth with lower volatility, has faced various market risks and will stop accepting creation orders on July 12, 2024.
Goldman Sachs Alternatives has acquired Xpress Wellness from Latticework Capital Management, expanding its reach in rural healthcare. Xpress Wellness, which operates urgent care and other healthcare services across Oklahoma, Kansas, and Texas, aims to use Goldman Sachs' resources to accelerate growth and expand its service offerings. Under Latticework's ownership since 2018, Xpress has grown from 10 to 58 clinics and created over 600 jobs. The acquisition positions Xpress to further enhance its services, particularly in underserved rural communities.
Pennybacker Capital Management, an Austin-based real assets investment firm, received a strategic investment from Goldman Sachs Asset Management's Petershill program, aiming to accelerate growth. The terms of the transaction were not disclosed. The investment will help Pennybacker enhance its platform as a middle-market real assets investment manager.
Ajax Therapeutics, a biopharmaceutical company, raised $95 million in Series C financing to advance their Type II JAK2 Inhibitor, AJ1-11095, into clinical trials for myelofibrosis treatment. The financing was led by Goldman Sachs Alternatives and included several new and existing investors. AJ1-11095 is designed to provide better efficacy and disease modification compared to current JAK2 inhibitors. The company aims to address unmet needs in treating myeloproliferative neoplasms (MPNs) with innovative therapies.
Bixby Land Company closed its Bixby Industrial Fund I, offering existing investors liquidity and extending duration for a portfolio of industrial properties in California, Arizona, and Georgia. The fund, with equity investors like Vintage Strategies at Goldman Sachs Alternatives and Ares Management Real Estate Secondaries fund, aims for value-add returns over a 5-7 year horizon.
Goldman Sachs BDC, Inc. reported strong financial results for the first quarter of 2024, with net investment income per share of $0.55 and adjusted net investment income per share of $0.54. Earnings per share were $0.39, and the net asset value per share decreased slightly to $14.55. The company's investment portfolio comprised mainly of senior secured debt, with total investments at fair value and commitments amounting to $3,954.8 million. The Company also declared a quarterly dividend of $0.45 per share and closed a public offering of $400.0 million aggregate principal amount of unsecured notes due 2027. Despite some investments on non-accrual status, the Company's financial position remains strong.
Transcendia Holdings, Inc. announces a recapitalization transaction providing $114 million in new capital, eliminating over $200 million in debt, and strengthening its competitive position. Industrial Opportunity Partners becomes majority shareholder with Goldman Sachs Asset Management retaining a significant minority stake. The transaction supports Transcendia's growth strategy, cost structure improvements, facility optimization, and expansion into new markets.
Sun European Partners, LLP affiliate agrees to sell leading UK environmental risk reduction specialist, Adler & Allan, to Goldman Sachs Alternatives. The acquisition is expected to close in the next few months pending approvals. Adler & Allan, founded in 1926, operates in Environmental, Energy, and Water Services, with a focus on sustainability and climate transition. Sun European's buy & build strategy enhanced growth and value creation through strategic add-ons and diversification into renewable energy services. Goldman Sachs aims to accelerate growth organically and through targeted acquisitions.
