US Stock Market: Goldman Sachs launches new private markets platform to expand offerings for wealthy clients

Goldman Sachs has launched a new private markets platform to expand alternative investment offerings for wealthy clients, to be led by Matt Doherty who currently heads the alternatives business. The restructuring combines its fiduciary single-asset investment business with its family office-focused direct investment business to build a dedicated private company investments team. The move reflects growing investor appetite for private market exposure as high-growth startups remain unlisted for longer periods, and follows better-than-expected Q2 profit driven by a recovery in dealmaking and record equities trading revenue.