Goldman Sachs has unveiled a new platform designed to expand its private markets offerings for wealthy clients and family offices seeking direct stakes in rapidly growing private companies, according to a memo first obtained by CNBC.
The platform, called the alternative investments platform, merges Goldman’s existing alternatives business with two newly created teams. One team focuses on direct investments in individual private companies rather than broader private equity funds, while the other helps clients buy and sell those stakes.
“There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets,” Kristin Olson, Goldman Sachs’ global head of alternatives for wealth, told CNBC.
Capturing Growth Before Public Debuts
The move reflects a fundamental shift in how companies approach public markets. Successful startups are remaining private much longer than in previous decades, allowing early investors to capture most of the gains before shares become publicly available.
“Companies are going public at a trillion dollars,” Olson said. “If you haven’t participated along the way, you’re clearly missing a big part of the growth cycle.”
Goldman has arranged direct investments in later-stage private companies for wealthy clients for roughly two decades, Olson noted, pointing to Facebook before its 2012 IPO and later SpaceX, Stripe and Canva. However, surging demand for the asset class convinced executives to formalize and expand the business.
Focus on Later-Stage Companies
Rather than targeting early-stage startups, Goldman generally focuses on later-stage companies that have established products, meaningful revenue and clearer paths toward profitability. The firm seeks what Olson described as a “sweet spot” between risk and return.
The artificial intelligence investment boom has intensified demand. Beyond leading model developers, Goldman is increasingly directing clients toward investments in AI infrastructure, including data centers and related projects, according to Olson.
The announcement follows Goldman’s recent report of record quarterly revenue, with executives highlighting AI-driven activity across investment banking, trading and financing businesses. The results reinforced the view that Goldman is positioned to benefit from multiple facets of the AI investment cycle.
Expanding Secondary Markets
The new platform also formalizes Goldman’s growing business helping clients find liquidity for private investments. Through its new secondary advisory group, the firm plans to expand a marketplace that allows clients to buy and sell private holdings while also advising clients looking to exit investments held outside Goldman.
“We said, let’s break that out and let’s make it very clearly defined as something that we’re leaning into,” Olson said.
The platform reflects broader trends reshaping Wall Street. Goldman has spent years pushing deeper into wealth and asset management, viewing it as providing steadier revenues than investment banking and trading.
Source: www.cnbc.com — https://www.cnbc.com/2026/07/21/goldman-sachs-private-markets-platform.html
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