BEST PRIVATE BANK – ALTERNATIVE INVESTMENTS
Despite a relatively smooth bull market in 2017, alternatives continue to play an increasingly critical role in Asian HNWIs’ portfolios, to generate uncorrelated or potentially outsized returns. According to Preqin, the private equity industry broke fundraising records with US$453 billion globally last year, beating the previous high of US$414 billion in 2007, while hedge funds snapped a five-quarter outflow streak by recording inflows of US$43.9 billion as of 3Q17.
A perennial alternatives powerhouse in Asia, Goldman Sachs took advantage of this positive environment for the asset class, with its private wealth management business achieving several milestones in 2017, growing alternatives assets and posting a record-high client penetration rate.
Especially noteworthy was its success in the private equity space, where Goldman Sachs’ focus on access and idea generation set the stage for another stellar year. With an offering that spans mainstream strategies, including LBO, growth, capital and VC, to more niche multi-asset ESG solutions, the bank’s strong conviction in its own pipeline is best demonstrated by its willingness to commit balance sheet and employee capital to a range of offerings, thereby bringing a level of alignment that provides further assurance to clients.
Within hedge funds, the bank continues to leverage its manager network and negotiating power to bring clients access to strategies unavailable to most other investors in Asia at attractive terms. Beyond traditional hedge funds, the bank has also capitalised on demand for liquid alternatives, boosting assets within this set of funds by more than 12-fold year-on-year.
In a strong overall year for alternatives, Goldman Sachs stood out by fully leveraging its platform and network to obtain the title of Best Private Bank – Alternative Investments for the second consecutive year.
“Our alternatives business has grown significantly in terms of net assets and penetration of client portfolios. We will continue to work with clients to provide bespoke solutions and investment opportunities that best suit their needs.”