The Goldman Sachs Group, Inc. reports news across its investment banking, global markets, lending, asset management and wealth management businesses. Recurring developments include earnings releases, capital and debt-market activity, governance updates, and disclosures tied to its listed common stock, preferred depositary shares, capital securities and medium-term notes.
Company news also includes activity from Goldman Sachs Asset Management, Goldman Sachs Alternatives and related investment platforms, including growth-equity investments, enterprise technology financings, AI-focused partnerships and specialty-finance vehicles externally managed by Goldman Sachs Asset Management. These updates reflect the firm’s role as a global financial institution, asset manager and capital provider.
Goldman Sachs Asset Management has launched the Goldman Sachs 529 Plan in partnership with Arizona's AZ529, Advisor Plan. The plan aims to enhance education saving services and will be managed by Ascensus College Savings Recordkeeping Services. It offers diversified investment options, including Year of Enrollment Portfolios and Target Risk Portfolios, and aims to help families meet long-term education funding needs. This strategic initiative has already garnered approval from the Arizona State Treasurer and Board of Investment for an initial 5-year agreement.
Recover, a leader in sustainable materials, announced a $100 million equity investment led by Goldman Sachs to enhance its global operations. The funding aims to boost production capacity to over 350,000 metric tons of recycled cotton fiber annually by 2026, significantly reducing environmental impacts. This partnership seeks to support major retailers like Primark and Inditex in their sustainability goals, effectively saving an estimated 5 trillion liters of water per year.
RippleMatch announced a successful $45 million Series B funding round led by Goldman Sachs Asset Management on June 8, 2022. The investment follows a year where RippleMatch expanded its user base threefold and facilitated hundreds of thousands of interviews for clients like SAP and Amazon. The platform aims to revolutionize recruitment for Gen Z by using automation to enhance candidate experience and increase diversity. RippleMatch plans to use the funds to triple placements, double its team size, and invest in new technology to support their rapid growth.
CareAcademy has secured a $20 million investment round led by Goldman Sachs Asset Management, aimed at enhancing its care enablement platform. The funding will support product development and improve data measurement capabilities. This investment aligns with Goldman Sachs’ One Million Black Women initiative, a $10 billion commitment to support Black women. CareAcademy aims to empower 1 million caregivers by 2023, having already delivered over 1.5 million training hours to nearly 300,000 learners.
LeanTaaS Holdings has announced that Bain Capital Private Equity has acquired a majority stake in the company, investing significant growth capital to fuel its expansion. Existing investors Insight Partners and Goldman Sachs will retain material stakes. LeanTaaS specializes in cloud software solutions that optimize hospital operations through advanced AI and predictive analytics. The company serves over 500 hospitals nationwide, including 12 of the top 20 health systems. The transaction is expected to complete in Q3 2022, pending regulatory approval.
Ashcroft Capital has formed a strategic partnership with institutional investors, including funds advised by Goldman Sachs and Blackstone, to enhance its multifamily portfolio in the Sun Belt region. This partnership is anticipated to facilitate liquidity for current investors and enable Ashcroft to pursue approximately $800 million in acquisitions. Currently managing $1.9 billion in assets, Ashcroft aims to add 15 to 20 properties in 2022, focusing on value-add strategies and property enhancements.
Goldman Sachs MLP and Energy Renaissance Fund (NYSE: GER) has announced a quarterly distribution of $0.175 per common share, payable on May 31, 2022. The ex-date for this distribution is May 23, 2022, and the record date is May 24, 2022. A portion of this distribution may be treated as a return of capital for tax purposes, with final characterization determined in early 2023. The Fund, managed by Goldman Sachs Asset Management, primarily invests in master limited partnerships and focuses on the energy sector.
Mahmee, a maternal healthcare startup, has closed a $9.2 million Series A funding round led by Goldman Sachs Asset Management. This investment aims to address maternal healthcare disparities, reduce premature births and Cesarean sections among its users, and expand its community-based care model. Since its inception in 2016, Mahmee has provided care to over 15,000 pregnant individuals, demonstrating improved health outcomes for marginalized groups. The funding will facilitate the growth of Mahmee's provider network and health partnerships, enhancing support for expectant mothers nationwide.
Goldman Sachs BDC, Inc. (GSBD) reported its first-quarter results for 2022, with net investment income per share at $0.49, adjusted to $0.45 after accounting for purchase discount amortization. The Company declared a dividend of $0.45 per share for the second quarter. Total investments at fair value reached $3.93 billion, with a net asset value per share of $15.80. New investment commitments totaled $131.7 million, but total investment income declined to $78.3 million from $83.8 million. Notably, net realized and unrealized losses amounted to $9.8 million.
Goldman Sachs Asset Management has announced a share repurchase program for the Goldman Sachs MLP and Energy Renaissance Fund (GER), effective from May 15, 2022, to April 30, 2023. The Fund plans to buy back up to $10 million of its shares if they trade at more than a 10% discount to their net asset value (NAV). This initiative aims to enhance shareholder value and improve NAV and Net Investment Income per share. The repurchase program follows SEC rules and will be disclosed in shareholder reports.