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Goldman Sachs Personal Financial Management (GSPFM) was a former division of Goldman Sachs responsible for wealth management of high-net-worth individuals. [2] It had 74 offices in the United States and managed $25 billion in assets. [1] [3] In November 2023, it was announced that Creative Planning had completed the acquisition of GSPFM. [4]
The three founders met while working in Goldman Sachs' private client business in the 1980s. GLG was spun off by Lehman in 2000 before going public in 2007 through a reverse merger with Freedom Acquisition Holdings. At the time of the merger, GLG Partners Inc was valued at £3.3 billion, the then-largest alternative investment manager in Europe.
Goldman Sachs may sell one of its wealth-management businesses as the Wall Street giant looks to steer through a rocky period and scale back its ambitions to serve more mass-market customers.
Goldman established investment partnerships that allowed its clients to participate alongside the firm in private equity transactions. On April 23, 2007, Goldman closed GS Capital Partners VI with $20 billion in committed capital, $11 billion from institutional and high-net-worth investors and $9 billion from Goldman Sachs and its employees. [4]
U.S. investment bank Goldman Sachs is muscling into the lending market for private equity and asset managers, planning an overseas expansion as it helps fill a void left by turmoil at regional ...
Goldman Sachs (GS) is retreating from an ill-fated foray into consumer banking.But there is another area where it plans to expand: private credit. The Wall Street giant is attempting to double the ...
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3824 Northern Pike, Monroeville, PA · Directions · (800) 646-4710