Goldman Sachs Group Inc Stock Price, News & Analysis

Goldman Sachs BDC, Inc. (NYSE: GSBD) announced the appointment of Alex Chi and David Miller as co-CEOs and co-Presidents, effective March 2022. They succeed Brendan McGovern, who will retire after a 15-year tenure. Both Chi and Miller bring extensive experience from Goldman Sachs, with a combined 40 years in private credit investing. Their leadership is expected to further the firm's strategy in middle market corporate credit investments, aiming to enhance shareholder value through capital appreciation and income generation.

TortoiseEcofin announced that GreenSky, Inc. (NASDAQ: GSKY) will be removed from the Ecofin Global Digital Payments Infrastructure Index due to its merger with The Goldman Sachs Group, Inc. (NASDAQ: GS). This change will take effect on December 15, 2021, at market open. The Ecofin Index represents global digital payments companies engaged in electronic transactions and related Fintech services. The removal of GSKY from the index reflects its strategic transition post-merger.

CloudBees has successfully closed a $150 million Series F financing round, achieving a pre-money valuation of $1 billion. Additionally, a $95 million debt facility was secured to support growth. Goldman Sachs Asset Management led the financing, with investments from Morgan Stanley and others. The funds will drive product innovation, talent recruitment, and global market expansion, particularly in the Asia Pacific region. CloudBees serves notable enterprises like Capital One and Fidelity Investments, boasting significant annual recurring revenue.

Goldman Sachs Asset Management reported the outcomes of the Special Joint Meeting of Shareholders for the Goldman Sachs MLP and Energy Renaissance Fund (GER) and Goldman Sachs ETF Trust. Shareholders elected five new trustees to the Board of Goldman Sachs ETF Trust and four trustees to the Goldman Sachs MLP and Energy Renaissance Fund. The funds manage over $2 trillion in assets globally as of September 30, 2021. Shareholders should consider investment goals and risks associated with the funds.

Goldman Sachs (GS) introduced the Goldman Sachs Financial Cloud for Data at AWS re:Invent, a new suite tailored for financial institutions integrating AWS’s public cloud capabilities with Goldman Sachs’ extensive market experience. This collaboration simplifies data management and enhances analytics, enabling institutional clients to rapidly access and analyze financial data, thus improving investment decision-making. The platform supports tools like PlotTool Pro and GS Quant, fostering innovative approaches to data integration for hedge funds and asset managers.

Lime Rock Partners has successfully closed its $203 million acquisition fund, Lime Rock Partners VI AF, with Goldman Sachs Asset Management Vintage Funds as the lead investor. The fund focuses on assets in the Permian Basin, particularly interests in CrownRock Minerals. Limited partners had the option to reinvest or take full liquidity. Since 2015, Lime Rock has invested nearly $1.1 billion in minerals and royalties. The firm continues to collaborate with CrownQuest Operating to pursue value creation through strategic asset acquisitions.

PLACE, a real estate technology platform, announced it raised $100 million in Series A funding, led by Goldman Sachs, achieving a valuation over $1 billion. This funding will enhance PLACE's technology and services, accelerating the onboarding of top real estate teams and expanding its product offerings. Co-founders emphasized that the investment aims to improve agent productivity and respond to evolving consumer demands in real estate. PLACE serves agents across 100+ markets in the US and Canada, focusing on increasing sales volume and profitability for its partners.

The Goldman Sachs MLP and Energy Renaissance Fund (NYSE: GER) has announced a quarterly distribution of $0.165 per common share. Key dates include the Ex-Date on November 22, 2021, Record Date on November 23, 2021, and Payable Date on November 30, 2021. A portion may be treated as a return of capital for tax purposes, with final characterization expected in early 2022. The Fund focuses on high total returns, primarily investing in master limited partnerships in the energy sector.