Goldman Sachs Group Inc Stock Price, News & Analysis

Kate Farms has successfully completed a Series C funding round, raising $75 million led by Novo Holdings, with participation from Goldman Sachs and others. This investment will enhance Kate Farms' innovation and expansion in the plant-based nutrition market, particularly for patients requiring tube feeding. The company, which offers USDA Organic and Non-GMO certified products, aims to develop new products and enter new markets. Kate Farms has established a presence in over 95% of U.S. hospitals and has launched 13 new products since 2021.

Fortanix Inc., a leader in multicloud security, has secured $90 million in Series C funding, raising its total to over $122 million. The funding was led by Goldman Sachs Asset Management, indicating strong investor confidence in Fortanix's data-first security approach. The company has reported over 500% growth in the last three years and has expanded its customer base significantly, including Fortune 500 companies. With more than 25 patents, Fortanix addresses evolving regulatory demands and data breaches effectively.

Goldman Sachs Asset Management and Cleanhill Partners have acquired a majority stake in EPC Power, the only U.S.-based provider of end-to-end power conversion solutions. This strategic investment aims to capitalize on the rapid growth in renewable energy storage and facilitate America's clean energy transition. Following the Inflation Reduction Act of 2022, which incentivizes energy storage adoption, EPC Power is well-positioned to expand its market presence. The company has sold over 2 gigawatts of smart inverters and plans to open a second U.S. manufacturing facility by late 2022.

Goldman Sachs Asset Management has announced a $2.25 million sponsorship for the SEO Tech Developer program over the next three years. This initiative aims to equip Black, Latinx, and Native American computer science students with essential skills for the tech industry. Since its inception, the program has aided over 130 students, with 85% of its first cohort securing internships at major companies like Amazon and Google. By 2024, the program aims to support 200 students annually, emphasizing the importance of a diverse workforce for driving innovation and growth.

Lincoln Harris and Goldman Sachs Asset Management have finalized the sale of a 367,000-square-foot building at 650 South Tryon in Charlotte to Highwoods Properties Inc. (NYSE: HIW). This marks the third sale within the Legacy Union project, which consists of over 1.5 million square feet of office space. The building is currently leased to major tenants like Deloitte and JLL. Highwoods Properties expands its footprint in Charlotte with this acquisition, following past successful transactions with Lincoln Harris and Goldman Sachs.

Goldman Sachs MLP and Energy Renaissance Fund (NYSE: GER) has announced a quarterly distribution of $0.175 per common share, scheduled for payment on August 31, 2022. The ex-date is August 22, 2022, and the record date is August 23, 2022. A portion of this distribution may be classified as a return of capital for tax purposes, with the final characterization expected in early 2023. The Fund focuses on investments in master limited partnerships (MLPs) and energy-related assets across various sectors.

Goldman Sachs BDC, Inc. (GSBD) reported Q2 2022 financial results with net investment income per share of $0.49 and adjusted net investment income of $0.45, yielding an annualized return of 11.6%. The company declared a regular dividend of $0.45 per share. Total investments at fair value rose to $4.16 billion with net asset value per share declining to $15.53. The average net debt to equity ratio increased to 1.18x. Notable activity included $365.8 million in new investment commitments and a reduction in non-accrual investments to 0.4%. Earnings per share decreased to $0.18.

Performant Capital has created Provider Technology, LLC through the acquisitions of DavLong Business Solutions LLC and On Demand Solutions Inc. Both companies will continue to operate independently while sharing best practices. Goldman Sachs Asset Management provided financing for the acquisitions. Provider Technology aims to enhance technology capabilities and support services for over 3,000 medical providers in the U.S. The firm continues to seek additional acquisition opportunities to expand its services and geographic reach.

Lincoln Harris and Goldman Sachs Asset Management announced plans for the 24-story, 415,000-square-foot office tower, 600 South Tryon, in Uptown Charlotte, expected to complete by Q4 2024. This building will include 20,000 square feet of retail space and is already attracting tenants like the law firm Robinson Bradshaw, which has leased 102,000 square feet. The project is part of the Legacy Union development, which has seen over 1.5 million square feet built to date, showcasing innovative architecture and ESG features.