Goldman Sachs Private Wealth Management
As the quest to harvest elusive alpha intensifies and Asian investors look beyond traditional asset classes, private banks in the region have used alternative investments as a means to not only attract investor interest but also differentiate their own product suites. The banks that have emerged as leaders in this endeavour are the ones that have unparalleled access to global investment opportunities as well as the expertise to structure them so that they are more palatable to high net worth individuals.
Goldman Sachs has distinguished itself across several criteria including the size of assets invested in alternative investments, access to cutting-edge investment opportunities and its commitment to safeguarding investor interest and closely monitoring risk.
While the firm’s alternative investment platform manages more than US$143 billion in assets globally, its Private Wealth Management (PWM) franchise in Asia manages $5 billion of client investments in hedge funds and private equity across the firm’s global alternative investment platform.
Asian Private Banker found Goldman Sachs’ Alternative Investments & Manager Selection (AIMS) Group is not just the engine driving its alternatives platform, but also a clear differentiator of its offering in Asia. Powered by more than 275 professionals in nine offices around the world who conduct due diligence on all third-party managers across mutual funds, hedge funds and private equity funds, the efforts of this group have resulted in tangible benefits for the firm’s clients. This has been evident in the year-on-year asset growth in the alternative platform in Asia, with new clients opening accounts explicitly to access this platform.
The firm has offered Asian clients one of the widest arrays of alternative investment opportunities in the private banking industry. In the private equity space, a co-investment partnership with KKR, which rarely opens up investment opportunities to individual clients, was particularly notable.
This unique amalgamation of unrivalled global reach and a patent commitment to using this access only where it served the interests of the client, makes Goldman Sachs the deserved winner of this year’s Best Private Bank – Alternative Investments award.