Goldman Sachs closes $9.7 bln private-equity fund, largest since 2007

FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo/File PhotoNEW YORK, Sept 27 - Goldman Sachs Group Inc

The fund sits under the Wall Street giant's asset management arm and is known as "West Street Capital Partners VIII." It plans to invest an average of $300 million to take controlling stakes in companies in the financial and business services sectors, as well as healthcare, consumer, technology and climate change transition.

Morgan Stanley Investment Management has also closed several private equity funds this year with assets under management in excess of $3.25 billion, a spokesperson said. Investors in Goldman's latest venture include pension funds, sovereign wealth funds, financial institutions, family offices and high-net-worth individuals. The bank, as well as some of its employees, also invested.

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Those profits should be heavily taxed and used to help people

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