According to Reuters, the new fund, GS Vintage Fund V, follows earlier funds in which Goldman raised close to $6 billion in total. The most recent was in March 2007, when Goldman said it raised $3 billion.
Goldman expects the new fund to buy portfolios of private equity assets, including limited partnership interests in private equity funds, with transactions ranging from $1 million to more than $1 billion. Secondary private equity investments frequently trade at a large discount, as institutional investors seeking to bolster liquidity try to raise cash through asset sales.
Goldman Sachs Asset Management oversaw $779 billion of assets as of November 2008.