Goldman Sachs launches private markets platform for wealthy clients

Goldman Sachs has launched a new platform that gives its wealthiest clients direct access to private market investments, responding to growing demand among high-net-worth individuals for stakes in fast-growing private companies like SpaceX and Stripe. The platform, announced on Tuesday, allows eligible clients to invest directly in private firms alongside institutional investors, bypassing traditional public markets. The move affects Goldman Sachs' ultra-wealthy clients, who have increasingly sought exposure to private companies that often delay initial public offerings. It matters because it opens up a previously institutional-only asset class to individual investors, potentially reshaping how the wealthy allocate capital. The platform will initially offer a curated selection of private companies, with investments starting at $1 million. Goldman Sachs has not disclosed the specific companies available, but the bank has a history of investing in private firms through its own balance sheet. The launch follows a broader trend of private wealth managers offering alternative investments as public market returns become more volatile. Next steps include expanding the platform's offerings and potentially lowering minimum investment thresholds as demand grows, though Goldman has not confirmed a timeline for such changes.