Mace Consult Launches as a Standalone Company to Set New Standards for Program and Project Delivery
Rhea-AI Summary
Mace Consult (GS) completed a majority private equity investment by Goldman Sachs Alternatives and carved out from Mace Group, establishing a standalone global program and project management firm on March 5, 2026. The company retained the Mace brand, has ~5,500 specialists across six continents, and reported close to US$1 billion revenue in 2025.
Goldman Sachs Alternatives' capital will support accelerated growth—especially in North America—expanded digital capabilities, and scaled delivery across infrastructure, clean energy, advanced manufacturing, and other target markets.
AI-generated analysis. Not financial advice.
Positive
- Majority private equity investment by Goldman Sachs Alternatives completed
- Carve-out created an independent firm with ownership of the Mace brand
- ~5,500 specialists operating across six continents
- Reported close to US$1 billion revenue in 2025 providing scale for growth
Negative
- None.
News Market Reaction – GS
On the day this news was published, GS declined 3.67%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves, with MS flat, SCHW and IBKR down, and HOOD and LPLA up. This pattern does not indicate a unified sector move, suggesting the GS news is more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 04 | Project financing | Positive | +0.5% | GS funding a large mixed‑income redevelopment with over $60M commitment. |
| Feb 26 | Earnings & dividends | Negative | -7.5% | BDC results with NAV per share decline and detailed dividend declarations. |
| Feb 25 | Partner earnings | Negative | +2.1% | Hut 8 reports revenue but a substantial net loss and negative EBITDA. |
| Feb 12 | Advisory board launch | Positive | -4.2% | NYSE creates Texas Advisory Board including a Goldman Sachs representative. |
| Feb 10 | Acquisition financing | Positive | +0.6% | GS Alternatives co‑leads credit facility for Truelink’s SouthernCarlson acquisition. |
GS news tied to strategic transactions and financing often aligns with modest price gains, while broader ecosystem or partner news has sometimes seen divergent reactions.
Over recent months, GS-related news has ranged from project financing and advisory roles to structured product offerings and governance initiatives. On Mar 4, 2026, GS’s Urban Investment Group committed over $60 million to a mixed‑income redevelopment in Austin, with a positive price reaction. Earlier, a Feb 26, 2026 earnings/dividend update for Goldman Sachs BDC coincided with a notable decline. Other items, like financing Truelink Capital’s SouthernCarlson acquisition on Feb 10, 2026, saw modest gains. Today’s majority investment in Mace Consult fits the pattern of GS Alternatives backing sizeable private transactions.
Market Pulse Summary
This announcement details Goldman Sachs Alternatives’ majority investment in Mace Consult, creating an independent, global program and project management provider with more than 5,500 specialists and close to US$1 billion in 2025 revenue. It expands GS’s exposure to infrastructure, clean energy, and other capital‑intensive sectors. In context, investors may track how this platform complements existing financing activities, the pace of growth in target markets, and any updates on returns or integration progress over time.
Key Terms
private equity investment financial
carve-out financial
program management office (pmo) technical
AI-generated analysis. Not financial advice.
- Majority investment from Goldman Sachs Alternatives in Mace Consult completed, creating a new and independent leading program and project management services provider
- Begins new phase as client-centric partner, providing seamless collaboration and certainty across the world's most impactful infrastructure and capital programs and projects
- New structure and investment to enable accelerated global growth, enhanced digital offering and expanded leadership in the industry.
With more than 5,500 specialist professionals operating across six continents, Mace Consult delivers certainty, working with clients from strategy through execution to deliver projects and programs on time, on budget, and on scope.
The transaction, first announced in July 2025, has now closed and establishes Mace Consult as one of the largest independent project and program consulting businesses in the world and creates a strong platform for its future. Led by CEO Davendra Dabasia, Mace Consult will retain the Mace brand and is well-positioned to scale its operations and growth around the globe.
Mace Consult CEO Davendra Dabasia said: "Today marks the beginning of an exciting new chapter for Mace Consult. Our partnership with Goldman Sachs Alternatives gives us the capital and strategic backing to scale our operations, particularly in
Mace Consult prioritises outcomes and has partnered with clients on some of the world's most iconic infrastructure programs including the
Mace Consult was also appointed program management partner for MTR Corporation's new rail network, and the Civil Engineering and Development Department's (CEDD's) Northern Metropolis program in
Following years of double-digit growth, Mace Consult generated close to
Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, added: "We are excited to partner with Mace Consult into the next phase of its growth journey. The company's entrepreneurial culture, focus on client outcomes, and commitment to excellence set it apart in the industry. We're looking forward to supporting Mace Consult as it continues to deliver enduring value for clients and communities worldwide."
Major infrastructure programs often involve dozens of organisations, thousands of decisions, and billions of dollars moving in parallel. Mace Consult manages this integration challenge through four service offerings – Strategic Advisory, Cost and Commercial Management, Program Management Office (PMO) and Planning, and Program and Project Management. This holistic service offering establishes governance and delivery frameworks that enable timely and well-informed decisions, early and pre-emptive resolution of problems, prioritisation of safety and sustainability, and active coordination between interfaces to maintain program momentum.
Now independent from Mace Group and with ownership of the Mace brand, Mace Consult is focused purely on managing delivery for clients. Mace Consult represents the best interests of clients' programs, challenging timelines, mitigating risks, holding stakeholders accountable, as a fully integrated delivery partner across the lifecycle.
Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A), and White & Case (Legal). Mace Group was advised by UBS (M&A) and Linklaters (Legal).
About Mace Consult:
Mace Consult brings certainty to the world's most impactful infrastructure and capital programs. For more than 30 years, Mace has set the industry standard for program and project management, PMO (program management office) and planning, cost and commercial management, responsible business, advisory services, and digital solutions. From Olympic Parks, airport expansions, and hospitals to data center campuses, transportation systems, energy networks, and urban developments, our teams help shape infrastructure and places that endure for generations.
With more than 5,500 professionals across six continents, we partner with clients to deliver projects and programs on time, on budget, and on scope. Mace Consult generated close to
Find out more at www.maceglobal.com.
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over
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 approximately
Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over
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SOURCE Mace Consult