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Diversified Financial Services
FINANCE | Investment Banking
goldmansachs.com

Investments

1162

Funds

16

Partners & Customers

10

About Goldman Sachs

Goldman Sachs (NYSE:GS) is a financial services firm. It provides investment banking, securities, and investment management services to a client base that includes corporations, financial institutions, governments, and high-net-worth individuals. The firm maintains offices in London, Frankfurt, Tokyo, Hong Kong, and other financial centers around the world. Goldman Sachs was founded in 1869 and is based in New York, New York.

Headquarters Location

200 West Street 29th Floor

New York, New York, 10282,

United States

+1 212 902 1000

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Expert Collections containing Goldman Sachs

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Goldman Sachs in 8 Expert Collections, including HR Tech.

H

HR Tech

65 items

S

Store tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

V

Vitamin & Supplement Startups

237 items

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

T

Travel Technology (Travel Tech)

39 items

Tech-enabled companies offering services and products focused on tourism. This collection includes booking services, search platforms, on-demand travel and recommendation sites, among others.

D

Digital Lending

34 items

This collection contains alternative means for obtaining a loan for personal or business use. Companies included in the application, underwriting, funding, or collection process is included in the collection.

Latest Goldman Sachs News

Investor cries foul on Sovos sale to Campbell

Sep 23, 2023

PUBLISHED: | UPDATED: September 22, 2023 at 7:35 p.m. LOUISVILLE — An individual investor in Sovos Brands Inc. (Nasdaq: SOVO) is suing the company and a group of its leaders, alleging violations of the Colorado Securities Act that occurred during the food-brand umbrella company’s $2.7 billion sale to Campbell Soup Co. (NYSE: CPB). In a complaint filed this week in Boulder County District Court, investor Eric Maglione charges Campbell, Sovos, its executives, directors and financial advisers with “dissemination of false and/or misleading statements to Sovos investors,” which set the stage for Campbell’s to pay less per Sovos share than the company is worth. Food and soup giant Campbell agreed in August to absorb Sovos and add it to its beverages division. Louisville-based Sovos, which moved to Colorado from California several years ago and controls Rao’s pasta sauce, Noosa Yoghurt and Michael Angelo’s frozen entrées, was valued at a bit more than $1 billion when it launched its initial public offering in 2021. “This acquisition fits perfectly with and accelerates our strategy of focusing on one geography, two divisions and select key categories that we know well. Our focused strategy has enabled us to deliver strong results over the past five years, enhance our brands and capabilities, and generate strong cash flow to lower debt,” Campbell CEO Mark Clouse said in a prepared statement last month. “With all this progress, I am confident in our readiness to execute and integrate this important acquisition. The Sovos Brands portfolio strengthens and diversifies our meals and beverages division and paired with our faster-growing and differentiated Snacks division, makes Campbell one of the most dependable, growth-oriented names in food.” The acquisition, expected to close in December, may result in the elimination of some redundant administrative operations at Sovos’ Louisville headquarters and the offloading of the Bellvue-based Noosa Yoghurt brand. “While yogurt is not core to our strategy, we are excited that (Noosa) is performing very well with great products and strong profitability,” Clouse said in a conference call last month. Strong performance from Noosa allows Campbell “to be patient while we evaluate strategic alternatives,” he said. One such alternative could be jettisoning the brand from Campbell’s meals and beverages division. Campbell, according to its chief financial officer Carrie Anderson, expects the absorption of Sovos to result in the elimination of $50 million in annual redundant costs over the next two years, much of which could to be cleaved from Sovos’ administrative operations, which, of course, are headquartered in Boulder County. “Our plan is to continue to build on (Sovo’s) incredible momentum, maintain its high quality standards and retain members of its talented team,” Clouse said. The specific local impact of the deal remains unknown. Maglione’s lawsuit alleges that the sale to Campbell is “unfair to plaintiff and Sovos’s other public investors because the sale price of $23 per share is less than the intrinsic value of the company’s stock, which Sovos’s own financial adviser, Goldman Sachs, determined to be as much as $29.81 per share. Given Goldman Sachs’ valuation, Sovos’s investors will receive over 22% less for their shares than the shares intrinsic value and will be deprived of more than $294 million in value collectively.” A major beneficiary of the acquisition, the lawsuit claims, is Advent International Corp., a private equity firm that holds more than 40% of Sovos’ shares. “Advent is driving the sale in order to monetize its substantial stake — worth almost $1 billion — in the company, which it would be unable to do profitably in open market transactions without depressing the value of its interest,” the lawsuit claims. Financial advisers Goldman Sachs & Co. LLC and Centerview Partners LLC, the complaint alleges, also had incentive to sign off on the sale. “Goldman Sachs will receive a $27.4 million fee only if the sale closes and will receive no compensation if it does not while Centerview will receive a $7 million fee only if the sale closes and just $2 million if it does not,” the lawsuit said. “This gives Goldman Sachs and Centerview incentives of $27.4 million and $5 million, respectively, to issue favorable ‘fairness opinions’ because without such opinions, a transaction typically could not be consummated, in which event they would not receive their outsized fees.” In addition to Sovos and Campbell, defendants in the lawsuit include Sovos CEO Todd Lachman; Advent current and former employees Jefferson Case, William Johnson, Neha Mathur and David Roberts; and Sovos directors Tamer Abuaita, Valarie Sheppard and Vijayanthimala Singh. Campbell and Sovos representatives did not respond to requests for comment Friday. Sovos and its financial advisers “negotiated a sale of the company with only Campbell and failed to reach out to other buyers who could have paid more for the company,” the lawsuit claims. “Compounding that failure, the individual defendants also caused the company to agree to pay Campbell a $71.3 million termination fee if Sovos’s investors disapproved the sale or if the company was sold to another buyer for a higher price, thereby deterring other bidders.” A sale to Campbell’s, or any other buyer, for that matter, is unnecessary, Maglione’s complaint argued. “Since the company’s 2021 IPO, (Sovos) has performed extremely well and has recorded double-digit organic sales growth,” the lawsuit said. “… Sovos’s future as a standalone public company is also bright.” The lawsuit is Maglione v. Sovos et al, case: 2023CV30681, filed Sept. 20, 2023, in Boulder County District Court. This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2023 BizWest Media LLC. You can view the original here: Investor cries foul on Sovos sale to Campbell Tags:

Goldman Sachs Investments

1,162 Investments

Goldman Sachs has made 1,162 investments. Their latest investment was in Ampla as part of their Line of Credit - II on September 9, 2023.

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Goldman Sachs Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/7/2023

Line of Credit - II

Ampla

$258M

Yes

2

8/22/2023

Convertible Note - III

Northvolt

$1,200M

No

3

7/13/2023

Series C

Secure Code Warrior

$50M

No

5

6/13/2023

Series B

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$99M

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10

5/24/2023

Series D

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$99M

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10

Date

9/7/2023

8/22/2023

7/13/2023

6/13/2023

5/24/2023

Round

Line of Credit - II

Convertible Note - III

Series C

Series B

Series D

Company

Ampla

Northvolt

Secure Code Warrior

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Amount

$258M

$1,200M

$50M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

2

3

5

10

10

Goldman Sachs Acquisitions

128 Acquisitions

Goldman Sachs acquired 128 companies. Their latest acquisition was FTC Hotels - Casa Cook Business on June 05, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/5/2023

$99M

Acquired Unit

1

8/22/2022

$99M

Acquired Unit

2

5/26/2022

$99M

Acq - Fin

2

3/29/2022

Series D

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$99M

$99M

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10

9/15/2021

Private Equity

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$99M

$99M

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10

Date

6/5/2023

8/22/2022

5/26/2022

3/29/2022

9/15/2021

Investment Stage

Series D

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

$99M

Note

Acquired Unit

Acquired Unit

Acq - Fin

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Sources

1

2

2

10

10

Goldman Sachs Fund History

16 Fund Histories

Goldman Sachs has 16 funds, including West Street Global Growth Partners.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/17/2023

West Street Global Growth Partners

$5,200M

1

12/9/2022

West Street Real Estate Credit Partners IV

$366M

1

9/28/2022

West Street Capital Partners VIII

$9,700M

1

4/21/2022

West Street Real Estate Investment Partners

$99M

10

5/22/2019

Broad Street Senior Credit Partners II

$99M

10

Closing Date

2/17/2023

12/9/2022

9/28/2022

4/21/2022

5/22/2019

Fund

West Street Global Growth Partners

West Street Real Estate Credit Partners IV

West Street Capital Partners VIII

West Street Real Estate Investment Partners

Broad Street Senior Credit Partners II

Fund Type

Status

Amount

$5,200M

$366M

$9,700M

$99M

$99M

Sources

1

1

1

10

10

Goldman Sachs Partners & Customers

10 Partners and customers

Goldman Sachs has 10 strategic partners and customers. Goldman Sachs recently partnered with Eurex on September 9, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

9/11/2023

Client

Germany

How Goldman Sachs is Transforming Eurex's FX Liquidity Hub in Europe

In apivotal step to expand its foreign exchange offering in Europe , the derivativesexchange Eurex tapped Goldman Sachs as a new partner to enhance the European FXliquidity hub .

1

8/24/2023

Client

United Kingdom

Shell taps Goldman Sachs to explore Singapore refinery sale: Sources

Shell taps Goldman Sachs to explore Singapore refinery sale : Sources

1

7/24/2023

Partner

United States

Top Independent Advisory Firm Creative Planning Expands Strategic Collaboration with Goldman Sachs via New Custody Relationship

NEW YORK and OVERLAND PARK , Kan. , July 24 , 2023 / PRNewswire / -- Creative Planning , one of the largest industry leading Registered Investment Advisors in the country , today announced a new multi-billion-dollar strategic custody relationship with Goldman Sachs .

2

6/23/2023

Partner

India

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10

6/23/2023

Partner

Canada

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10

Date

9/11/2023

8/24/2023

7/24/2023

6/23/2023

6/23/2023

Type

Client

Client

Partner

Partner

Partner

Business Partner

Country

Germany

United Kingdom

United States

India

Canada

News Snippet

How Goldman Sachs is Transforming Eurex's FX Liquidity Hub in Europe

In apivotal step to expand its foreign exchange offering in Europe , the derivativesexchange Eurex tapped Goldman Sachs as a new partner to enhance the European FXliquidity hub .

Shell taps Goldman Sachs to explore Singapore refinery sale: Sources

Shell taps Goldman Sachs to explore Singapore refinery sale : Sources

Top Independent Advisory Firm Creative Planning Expands Strategic Collaboration with Goldman Sachs via New Custody Relationship

NEW YORK and OVERLAND PARK , Kan. , July 24 , 2023 / PRNewswire / -- Creative Planning , one of the largest industry leading Registered Investment Advisors in the country , today announced a new multi-billion-dollar strategic custody relationship with Goldman Sachs .

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Sources

1

1

2

10

10

Goldman Sachs Team

434 Team Members

Goldman Sachs has 434 team members, including , .

Name

Work History

Title

Status

Tamin Pechet

Founder

Current

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Name

Tamin Pechet

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Work History

Title

Founder

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Status

Current

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