Goldman Sachs is merging four separate private equity groups into a single unit to generate more stable revenue and attract more for investors, the Wall Street Journal reported on Sunday.
The new division, which includes units investing in private companies, real estate and "other difficult access contracts", is expected to have assets of about $ 140 billion, reported the newspaper citing people close to the file.
It would be realized over several months.
The paper wrote that Goldman executives were hoping that the changes to Chief Executive Officer David Solomon were aimed at a historically successful business in the investment banking sector and that trading would increase its stagnant course.
Goldman also plans a fundraising campaign to raise funds from outside investors, rather than setting up its own funds, as it has done in the past in private equity firms, informed the Journal of people informing about these projects.
The plan to reorganize Goldman's private investment strategy "will be a multi-year effort to turn this business into more fee-based revenue and a more balanced mix of business," said the president. from Goldman, John Waldron, last month.
Read the full report of the Wall Street Journal