NEW YORK – December 22, 2023–Goldman Sachs Asset Management played a leading role in three major European unitranche deals in December, to date, including commitments of over €570m in total to support the acquisitions of WGSN, Sogelink and GGW by new private equity owners. The significant activity over the course of the month adds to the Firm’s deep portfolio of $32bn of current investments across European private credit.
WGSN is a leading global consumer trend forecaster, serving customers across multiple product design industries, enabling them to understand their future consumers’ changing attitudes and lifestyles and create the exact products and experiences those consumers will need.
Private Credit at Goldman Sachs Asset Management led the provision of a unitranche term loan and acquisition facility to support the proposed acquisition of the company, which is expected to close in the first quarter of 2024.
Sogelink is a leading European provider of software solutions for infrastructure, construction, and property management professionals. Founded in 2000 and headquartered in Lyon, Sogelink is a software, cloud and mobile solutions provider and has driven the digitalization of its ecosystem over two decades. The Company responds to mission-critical needs of all stakeholders across the value chain by addressing specific industry pain points, delivering tangible value.
Private Credit at Goldman Sachs Asset Management was able to provide a competitive financing offer to support the proposed acquisition of the company, co-leading a consortium of lenders. The financing builds on Goldman Sachs’ experience lending to construction software companies in other geographies.
GGW is a commercial non-life insurance broker serving small and medium sized businesses in Europe. GGW now has more than 50 brokerage companies operating within its platform, advising small and medium-size enterprises in Europe.
Private Credit at Goldman Sachs Asset Management has committed to be one of the largest lenders in support of the company’s proposed acquisition, working in coordination with a broader lender group.
James Reynolds, global head of Direct Lending at Goldman Sachs Asset Management, said:
"We are delighted to have been able to play leading roles supporting the acquisition of these European companies by financial sponsors. We believe the transactions build on our position as a leading provider of private credit solutions to European companies and our deep relationships with financial sponsors."
The three deals cap an active year for Private Credit at Goldman Sachs Asset management, which has committed over $13.7bn in 2023 supporting the growth of high-quality companies, globally.
Goldman Sachs Asset Management has been investing in private credit in Europe since 1996, building deep relationships with companies and financial sponsors, and navigating multiple economic cycles and market environments. The private credit business has invested approximately $180bn since inception and is one of the largest platforms globally, with a deep local presence in key markets across the US, Europe, and Asia. The firm launched its senior direct lending strategy in 2008, firstly investing in the US and shortly thereafter expanding activity to the European market. The strategy has more than $65bn in assets under supervision and has invested in over 440 companies in that time.
About Private Credit at Goldman Sachs Asset Management
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.6 trillion in assets under supervision globally as of September 30, 2023.
Established in 1996, Private Credit at Goldman Sachs Asset Management is one of the world’s largest private credit investors with approximately $110 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. The team’s deep industry and product knowledge, extensive relationships and global footprint position the firm to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size.
