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Goldman Sachs Surpasses $10 Billion in Assets for Evergreen European Private Credit Strategy

24 September 2026 | 3 minute read

September 24, 2026: Goldman Sachs Alternatives today announced that its evergreen European private credit strategy (“GSEC”) which launched in October 2023 has surpassed $10 billion in total assets as of August 2026.

GSEC is part of the firm’s $230 billion credit alternatives business. The private credit platform within Goldman Sachs Alternatives has invested in the European direct lending market since 1996. The strategy seeks to generate current income by making investments predominantly in cash pay, floating rate, and directly originated loans to borrower companies located primarily in Europe, employing a “buy-and-hold” strategy. GSEC is part of the European senior direct lending platform and allocates to investments alongside the firm’s flagship closed-ended senior direct lending family of funds. It provides investors with access to the scaled Goldman Sachs Private Credit platform through an evergreen format, with exposure to the same origination capabilities, investment approach, and longstanding partnerships with leading sponsors and borrowers, globally.

Today, the strategy’s portfolio has exposure to more than 400 companies, including private credit loans to more than 100 companies. The continued growth has been underpinned by significant investment activity in 2026, reflecting the breadth of Goldman Sachs’ Private Credit origination network and the platform’s ability to source and deploy capital at scale while remaining highly selective.

Since launch, the strategy has attracted a diverse investor base including sophisticated institutions, third-party wealth distributors, family offices, private wealth clients, and commitments from Goldman Sachs employees. 

James Reynolds, Global Co-Head of Private Credit at Goldman Sachs Alternatives, said: “Over the past 30 years, we have built deep expertise and trusted relationships in European private credit, enabling us to grow this evergreen strategy to over $10 billion in assets. We remain committed to delivering our clients a stable and diversified portfolio focused on capital preservation and robust returns.”

Stephanie Rader, Global Co-Head of Alternatives Capital Formation at Goldman Sachs Alternatives, said: “This latest milestone for our European evergreen direct lending strategy is a testament to the opportunity-set that exists in the region’s private credit market today, as well as the client partnerships that we have built in the three years since the strategy’s launch. Ongoing evolution of the private credit market has created opportunities for deeper engagement with our existing and prospective investor base, and we look forward to continuing the meaningful dialogue around how these investors engage with the asset class, particularly as evergreen structures become increasingly established.”

About Private Credit at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $706 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $4.0 trillion in assets under supervision globally as of June 30, 2026.

Established in 1996, Private Credit at Goldman Sachs Alternatives is one of the world’s largest private credit investors with $230 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. The team’s deep industry and product knowledge, extensive relationships and global footprint position the firm to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size.  Follow us on LinkedIn.

Note: Total assets raised, including leverage, represents fair value of private credit and liquid credit investments plus unfunded commitments notional. Excludes any cash and cash equivalents. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. 

Media Contact

Victoria Zarella: victoria.zarella@gs.com
917.343.8402

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The press release provided herein is for informational purposes only and does not contain information sufficient to make an investment decision. Within the EEA, this press release is considered a marketing communication but it does not constitute an offer to sell or a solicitation of an offer to buy any securities relating to any of the products referenced herein. Distinct offerings may currently take place under separate channels, and will be made only in accordance with the terms and conditions set forth in the offering documents pertaining to such fund and in the jurisdictions where the product is registered. 

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European Credit is registered in the following jurisdictions: Austria, Belgium, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain and Sweden.

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