NEW YORK - January 22, 2026 - Goldman Sachs Alternatives today announced the final close of its fourth private equity co-investment fund, Private Equity Co-Investment Partners IV ("PECP IV"). PECP IV and related accounts closed on more than $2.8 billion in capital commitments, significantly exceeding both its predecessor fund and original fundraising target, reflecting growing investor demand for co-investments and the breadth of opportunities sourced through our GP relationships.

Managed by a dedicated team of professionals within the Goldman Sachs External Investing Group ("XIG"), the PECP platform focuses on providing access to high conviction co-investment opportunities, primarily in control-buyout transactions, alongside a broad network of established managers.

The PECP platform sits at the nexus of Goldman Sachs's $528 billion External Investing Group, which helps clients identify, access and assess opportunities from third-party asset managers. XIG has relationships with thousands of managers globally.

The PECP investment team aims to partner with top-tier buyout and growth equity sponsors to build diversified portfolios of co-investments in high-quality companies, leveraging XIG's long-standing manager relationships, scale, and diligence capabilities across markets and sectors. The team strives to be a responsive and reliable co-investor to sponsors through varying market conditions, and seeks to deliver attractive, risk-adjusted returns.

Marc Boheim, global head of XIG Private Equity Co-Investment Strategies at Goldman Sach Alternatives, said: "We are deeply appreciative of the support from both existing and new investors. As the asset class continues to grow, and target companies increase in size, we see a significant and expanding opportunity to serve as a solutions provider to our private equity manager partners, helping them navigate an evolving market where the ability to move quickly and reliably matters more than ever."

The PECP platform manages capital from a global and diverse client base, including family offices, foundations, high net worth individuals, pension funds, insurance companies, and significant commitments from Goldman Sachs employees. The success of the fundraise is a reflection of the team's 20-year track record, deep relationships with hundreds of leading sponsors, and the growing recognition by investors that co-investments can represent a compelling, and fee-efficient access point to private equity.

Michael Brandmeyer, global head of the External Investing Group at Goldman Sachs Alternatives, said: "This fundraise highlights the expanding opportunity set in co-investments and the inherent advantages of the XIG platform in sourcing and executing these investments. Our recent Goldman Sachs 2025 Private Markets Diagnostic Survey clearly revealed that leading global investors remain meaningfully under-allocated to co-investments within their private markets' portfolios. Against this backdrop, we believe a dedicated, platform-powered co-investment program can help clients access co-investments from leading sponsors and enhanced diversification at a more efficient cost."

XIG is Goldman Sachs Alternatives dedicated external manager selection and partnership platform. Through an open-architecture approach, XIG sources, evaluates, and invests across private markets strategies, including primaries, secondaries, GP stakes and co-investments, drawing on global relationships and multi-decade experience. XIG has more than $528 bn in global AUS across traditional and alternative strategies.

About Private Equity Co-Investments at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $625 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, sustainability, and hedge funds. 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 approximately $3.6 trillion in assets under supervision globally as of December 31, 2025.

Established in 2001, the XIG Co-Investments platform at Goldman Sachs Alternatives partners with leading private equity managers worldwide to provide investors with differentiated access to high-quality co-investment opportunities. Drawing on over 25 years of experience and relationships with more than 1,000 private equity managers, XIG leverages its global scale, rigorous due diligence, and deep market insights to source, evaluate, and execute investments across geographies, sectors, and strategies. The platform's dedicated team of investment professionals seeks to deliver value by offering investors exposure to a diversified portfolio of direct company investments, while supporting sponsors with flexible, reliable capital and fostering long-term partnerships that endure across market cycles.

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