Goldman Sachs Group Inc Stock Price, News & Analysis

osapiens, a leading ESG Platform provider, has secured a $120 million Series B funding round led by Growth Equity at Goldman Sachs Alternatives. The funds will be used to accelerate international expansion and further invest in their technology platform. Goldman Sachs Alternatives has acquired a minority stake in osapiens, joining existing investor Armira Growth.

osapiens' core offering, the osapiens HUB, is an AI-powered cloud-based platform that simplifies compliance with international ESG regulations. The platform enables companies to identify and mitigate risks in operations and supply chains, and reduce manual workloads through process automation. osapiens supports over 1,300 customers worldwide, including major corporations like Bosch, Coca Cola North America, and Costco. The company experienced rapid growth in 2023, with its customer base expanding by 473%.

Betterment and Goldman Sachs Asset Management have launched the Goldman Sachs Tax-Smart Bonds portfolio, an industry-first offering designed to generate after-tax yield for investors in higher tax brackets. This innovative portfolio combines short-duration US Treasury bonds, high-quality corporate bonds, and municipal bond ETFs, with Betterment personalizing allocations based on individual tax situations.

The strategy adapts to market conditions and taxable equivalent yields monthly, considering events that might create volatility. This collaboration leverages Goldman Sachs' expertise in bond markets and Betterment's automation to provide a potentially lower-risk alternative to equity investing for long-term wealth building.

Calvert Impact has launched Access by Calvert Impact, a national initiative to provide small businesses with better access to credit, backed by a $140 million warehouse credit facility from Goldman Sachs Alternatives' Urban Investment Group. This program leverages funds from the State Small Business Credit Initiative and private investments to support community lenders in New York, New Jersey, Nevada, and Washington. Designed to assist socially and economically disadvantaged business owners, Access aims to alleviate longstanding liquidity issues in the community development financial institutions (CDFI) sector. Supported by grants from Citi Foundation and Wells Fargo Foundation, the program sells aggregated business loans on the secondary market to generate new capital. More than 80% of supported businesses identify as SEDI (socially and economically disadvantaged individuals). Calvert Impact will continue to expand this program across the US.

Goldman Sachs BDC (NYSE: GSBD) announced it will report its financial results for the second quarter ending June 30, 2024, after the market closes on August 8, 2024. The company will host an earnings conference call the next day, August 9, 2024, at 9:00 am Eastern Time to discuss these results. Interested parties can participate via telephone or an audio webcast available on the Investor Resources section of the GS BDC website. Domestic listeners can dial (800) 289-0459, while international callers should use +1 (929) 477-0443, referencing conference ID 427709 for listen-only access. For Q&A participation, domestic callers can dial (866) 575-6539 and international callers can use +1 (929) 477-0448, referencing conference ID 2384559. An archived replay will be available on the same website link.

On July 9, 2024, TAIT, a leader in live experiences, announced that Goldman Sachs Alternatives' Private Equity Business will acquire a majority stake in the company from Providence Equity Partners and other investors. The deal awaits regulatory approvals, and financial details were not disclosed.

TAIT's CEO, Adam Davis, noted that the partnership with Goldman Sachs will help the company expand its global reach and innovation capabilities. Goldman Sachs' expertise in media, entertainment, and technology will support TAIT's growth.

Goldman's Leonard Seevers expressed confidence in TAIT's potential for growth in the evolving entertainment sector. The TAIT management team will continue leading the company and remain significant shareholders.

Providence Equity Partners supported TAIT through significant growth and pandemic challenges over the past five years.

Canoe Intelligence announced raising $36 million in a Series C funding round led by Goldman Sachs, with participation from F-Prime Capital and Eight Roads. This funding increases Canoe's valuation by over three times since its Series B in 2023, marking a significant milestone for the company's growth.

The capital will be used to advance Canoe's AI-driven financial technology platform for alternative investors, enhancing its back-to-front office capabilities. The company has achieved 100% year-over-year growth in clients and revenue, and serves over 1,000 LPs with its automated data management solutions.

Goldman Sachs highlighted Canoe's potential in streamlining alternative investment data, noting the firm's extensive client base, which includes Blackstone and Hamilton Lane. Canoe's technology processes over 25 million documents annually, significantly boosting operational efficiency.

Goldman Sachs Asset Management (GSAM) announced an updated liquidation timeline for the Goldman Sachs Defensive Equity ETF (GDEF). Effective from June 12, 2024, the fund will liquidate its portfolio assets orderly. Shareholders can sell their shares on NYSE Arca until market close on July 3, 2024, but may incur transaction fees. Post-July 3, the shares will be delisted. Remaining shareholders as of the expected liquidation date, July 8, 2024, will receive a cash payout equal to the net asset value of their shares, leading to potential capital gains or losses for tax purposes. The fund will stop accepting creation orders on July 3, 2024. GDEF, originally an open-end mutual fund, seeks long-term growth with lower volatility using a “Put Spread Collar” strategy, though it involves market risks and high portfolio turnover, resulting in higher expenses and potential short-term capital gains.

Goldman Sachs Asset Management (GSAM) has announced that the Board of Trustees has approved a plan to liquidate the Goldman Sachs Defensive Equity ETF (GDEF). Effective immediately, the fund will begin liquidating its assets. Shareholders can sell their shares on NYSE Arca until market close on July 12, 2024. After this date, shares will be delisted and liquidating distributions will be made on or around July 19, 2024. The liquidation plan does not require shareholder approval, and transaction fees may apply for selling shares. The fund, which focuses on long-term capital growth with lower volatility, has faced various market risks and will stop accepting creation orders on July 12, 2024.

Goldman Sachs Alternatives has acquired Xpress Wellness from Latticework Capital Management, expanding its reach in rural healthcare. Xpress Wellness, which operates urgent care and other healthcare services across Oklahoma, Kansas, and Texas, aims to use Goldman Sachs' resources to accelerate growth and expand its service offerings. Under Latticework's ownership since 2018, Xpress has grown from 10 to 58 clinics and created over 600 jobs. The acquisition positions Xpress to further enhance its services, particularly in underserved rural communities.