April 13, 2009 / 1:27 AM / 10 years ago

Goldman near raising $5.5 bln in secondary fund-WSJ

NEW YORK, April 12 (Reuters) - Goldman Sachs Group Inc (GS.N) is close to receiving $5.5 billion of investor commitments for a new fund that will buy private equity investments on the secondary market, the Wall Street Journal reported on Sunday.

The Journal said the new fund, called GS Vintage Fund V, would be the largest secondary fund ever raised.

Secondary private equity investments — the industry’s equivalent of second-hand assets — frequently sell for steep discounts as liquidity-starved investors look to build cash.

A Goldman Sachs spokesman declined to comment on the matter. (Reporting by Michael Erman; Editing by Muralikumar Anantharaman)

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