Goldman Sachs Group Inc. is ramping up investing its clients’ money in India and developed markets in Asia-Pacific as interest in China cools amid political and economic friction. Know more:
Goldman Sachs Group Inc. is ramping up investing its clients’ money in India and developed markets in Asia-Pacific as interest in China cools amid political and economic friction.
“While there’s excitement about China’s reopening, the capital markets haven’t rebounded yet and deal flow consequently hasn’t fully bounced back either,” she said. “Public side investors are seeing some flows back into the stock market, but on the private side, there is still a bit of a time gap. In the meantime, India and Japan have been sharing the limelight.”
Asia has been the prime spot for the bank’s growth-related investments, comprising almost 50 percent of the total from 2003 to 2020, the people said. Last year, the firm raised $72 billion for third-party alternative platforms, including across real estate, private equity and credit platforms as part of an overhaul by Chief Executive Officer David Solomon to reduce its balance sheet investment portfolio. In 2022, the bank trimmed its on-balance sheet alternative investments by $9 billion to $59 billion, according to its latest earnings presentation.
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