Goldman Sachs Asset Administration is aiming to greater than double its personal credit score portfolio in 5 years, to run $300bn (£234.5bn).
Marc Nachmann, international head of asset and wealth administration, instructed Reuters in an interview that the group is looking for to develop its personal credit score portfolio from $130bn at the moment.
The feedback come at a time of accelerating curiosity in personal credit score, with many conventional asset managers trying to launch divisions or develop current capabilities.
Others which were pushing into personal credit score embrace Morgan Stanley, trying to double its personal credit score portfolio to $50bn, and BlackRock, which acquired personal debt specialist Kreos Capital final 12 months.
Learn extra: Goldman Sachs launches personal credit score fund for wealth market
GSAM has been investing in personal credit score for almost three a long time and employs greater than 160 folks devoted to the asset class. The majority of its personal credit score property are in senior direct lending.
In a latest video, Lotfi Karoui, chief credit score strategist at Goldman Sachs, mentioned personal credit score will proceed to develop and truly be extra strong than public credit score in the next price of capital setting.
He highlighted the advantages of rising charges for the asset class and famous that the issues over the rise of personal credit score are largely overblown.
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