Goldman Sachs Asset Management

Why private infrastructure? Infrastructure is the physical and digital foundational framework that we consider essential in our daily lives. It evolves as our lifestyles change, causing the scope of infrastructure investing to continuously change. Our latest webinar in the Goldman Sachs Investment University series dives into key drivers impacting the asset class and considerations for integrating private infrastructure into a portfolio. Watch on demand and access more insights and educational resources: http://ms.spr.ly/6043S2zzW

From 2014 to 2024, the US dollar experienced a consistent uptrend, driven by strong US asset returns, its status as the world's reserve currency, and its role as a perceived global safe-haven asset. 2025 has brought a shift, with the dollar declining, even amid global risk aversion, reflecting concerns over US policy choices and the growing appeal of opportunities elsewhere. Despite these changes, the dollar's journey won't be linear. We believe it retains the potential to rally during risk-off periods or when the US economy outperforms. Importantly, we continue to believe that the dollar remains a strategically relevant asset for investors, offering diversification and tactical opportunities in volatile markets. Read our latest investment insights to learn more: http://ms.spr.ly/6044S28a8

In a recent discussion with Termgrid, Amit Bahri, co-head of our European Direct Lending business, discussed the secular growth in direct lending and the structural shift in how borrowers are thinking about capital. Amit suggests this growth is driven by both the increasing size of deals and the depth of the private credit market. He pointed to the structural shift in how borrowers think about capital, stating, "Both borrowers and investors find private credit and direct lending appealing, which is why this asset class has grown significantly." Watch Amit’s full interview to hear his thoughts about the future of private credit: http://ms.spr.ly/6041SFZHf

We were excited to ring the Nasdaq Closing Bell earlier this week in celebration of our Premium Income ETFs! 🎉 Launched in October 2023, and now each with over $1B in assets, the Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) and Goldman Sachs S&P 500 Premium Income ETF (GPIX) seek to provide investors with an opportunity to generate current income and growth through a dynamic options overwrite strategy. “GPIQ and GPIX reflect the increasing demand for actively managed ETFs that provide a consistent level of income, and demonstrate our commitment to designing active investment strategies that help our clients meet their investment objectives,” said Padideh Raphael (Trojanow), our global co-head of Third Party Wealth, who rang the bell. Learn more about GPIQ: http://ms.spr.ly/6048SLI86 and GPIX: http://ms.spr.ly/6049SLI8B 📸: Nasdaq Inc.

Despite economic, geopolitical, and market uncertainties, we see potential opportunities for investors in the second half of 2025. Our Mid-Year Outlook outlines strategies to recalibrate portfolios, focusing on active management, diversification, and income generation. We believe the investment environment calls for a halftime reset—not a retreat. Learn more: http://ms.spr.ly/6043SIUV5

Why is private market exposure increasing? During a recent interview with Fund Shack, Kyle D. Kniffen, our global head of Alternatives for Third Party Wealth, discussed the transformation of alternative investments into a mainstream asset class. Kyle noted that the number of public companies has decreased, and firms are staying private longer, leading to a surge in innovation and growth in the private sector. "We're excited to deliver all of the expertise that we have in alternative investing to a wide segment of wealth partners globally," Kyle stated and emphasized the importance of education and transparency in helping clients understand and benefit from these investments. Listen to Kyle’s full interview: http://ms.spr.ly/6049SvShS

Is the case against the US dollar overstated? Gurpreet Garewal of Goldman Sachs Asset Management separates the signal from the noise.

The current market volatility, influenced by tariffs and inflation, is creating a complex, but also attractive, landscape for private equity investors in the U.S. and Europe. Michael Bruun, our global co-head of Private Equity, discussed addressing these challenges and identifying opportunities. He believes that our approach involves leveraging our global network to find the best assets across geographies and driving operational improvements. Listen below to Michael’s insights on Bloomberg ⬇

We had the pleasure of connecting with clients and industry participants at the recent SuperReturn International in Berlin to discuss key trends in private credit, secondaries, private equity and GP Stakes. From navigating macro-uncertainty to the expansion of the secondaries markets, our senior leaders shared their views on the evolving alternative landscape ⬇ Learn more about our alternative investing capabilities: http://ms.spr.ly/6043St3RU

Staying ahead in the private markets means understanding the latest trends and risks. Our webinar, the first in the Goldman Sachs Investment University series, brought together investment leaders to discuss current market dynamics and future outlooks in private equity, private credit, hedge funds, and real assets. Watch on demand and gain access to our insights and educational resources, including access to our CE credit webinars, through GSIU: http://ms.spr.ly/6040Sq8SO