Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe - CNBC

What the report says

CNBC reported that Goldman Sachs is setting up a new alternative investments platform designed to give wealthy clients and family offices more direct access to private-company investments. The platform brings together Goldman’s existing alternatives business with two newly created teams, according to an internal memo CNBC said it reviewed.

The new teams will focus on stakes in individual private companies, rather than traditional diversified private equity funds, and on services that help clients purchase or sell those holdings. Kristin Olson, Goldman Sachs’ global head of alternatives for wealth, told CNBC that demand has grown for access to major private technology companies before they enter public markets, citing examples such as SpaceX, Stripe and Canva.

The move highlights a broader shift on Wall Street: large banks are expanding wealth and asset management businesses, which can provide more stable fee revenue than trading or dealmaking, while high-growth startups are remaining private for longer. CNBC reported that Goldman has arranged late-stage private investments for wealthy clients for about two decades, including Facebook before its 2012 IPO, but is now formalizing and expanding the effort.

Goldman is also building out a secondary advisory group to support liquidity in private holdings, including a marketplace for clients to buy and sell stakes. Olson said the firm is emphasizing later-stage companies with established products and revenue, while investor interest tied to artificial intelligence is increasing attention on areas such as data centers and related infrastructure.