Goldman Sachs has come up with a new platform as it looks to expand its private market offerings for wealthy clients, amid the ongoing AI boom. The alternative investment platform will be led by Matt Doherty, who will continue to oversee the Wall Street Bank’s alternatives business, said a memo seen by Reuters.
Goldman’s latest move comes as wealthy investors increasingly seek access to privately held companies, where many fast-growing startups are staying private for longer, allowing investors to benefit from rising valuations before an initial public offering (IPO).
Companies like Elon Musk-headed SpaceX remained privately held for years before going public in June 2026, even as their valuation surged, fueling demand among wealthy investors for private market investments. The AI boom has only spiked that interest.
While Goldman joins the bandwagon of Wall Street banks expanding their private market offerings for wealthy clients, alternative capital markets, which manage alternative investments for wealthy clients, will remain the core business within the platform.
The Doherty-led team will continue to help Goldman’s clients invest in private market assets, apart from advising them on building alternative investment portfolios and managing those portfolios on their behalf.
“As part of the changes, Goldman is creating a new private company investments team by combining its fiduciary single-asset investment business with its family office-focused direct investment business. The changes are intended to build on the growth of Goldman Sachs’ alternatives business and strengthen its private markets platform,” the memo said further.
Goldman Sachs has already exceeded its second-quarter profit expectations, with dealmaking picking up, as market volatility amid the ongoing Iran war boosted equities’ revenue to a record.
“There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets,” Kristin Olson, Goldman Sachs’ global head of alternatives for wealth, told CNBC in an interview.
“Companies are going public at a trillion dollars. If you haven’t participated along the way, you’re clearly missing a big part of the growth cycle,” the senior official stated further.