Goldman Sachs Alternatives

Goldman Sachs Alternatives operates as the alternative investment business of Goldman Sachs, established in 1986. The firm focuses on a diverse range of alternative investments, including private equity, private credit, secondaries, real estate, infrastructure, and growth equity. With over three decades of experience in alternative investing, the company aims to provide knowledge, market insights, and investment views to navigate the evolving alternative investing landscape. This business unit is committed to delivering education and insights alongside portfolio strategy advice to meet client objectives across their alternative investment journey.

The firm's strategy is anchored in its interconnected Global Banking & Markets and Asset & Wealth Management franchises, which are positioned to drive growth and value for shareholders and clients. Goldman Sachs Alternatives leverages the resources of the broader Goldman Sachs network and insights to identify and capitalize on global transformations, turning them into investment opportunities. The company offers solutions across the full spectrum of alternatives, which clients can access through direct strategies, customized partnerships, and open-architecture programs. As of March 30, 2026, Goldman Sachs is recognized as one of the leading investors in alternatives globally, managing over $625 billion in assets within this sector. The firm's alternative investments platform is an integral part of Goldman Sachs Asset Management, which provides investment and advisory services across public and private markets for institutions, financial advisors, and individuals worldwide.

Within its real estate investment activities, Goldman Sachs Alternatives has demonstrated significant experience in the Purpose-Built Student Accommodation (PBSA) sector, particularly within the United Kingdom. The firm previously played a pivotal role in the establishment and served as the majority investor for iQ Student Accommodation. This portfolio expanded to include over 28,000 beds nationwide through strategic acquisitions and organic development during the firm's ownership. The subsequent sale of iQ Student Accommodation in 2020 for £4.67 billion represented the largest private real estate transaction in the UK at that time.

The firm continues to expand its presence in the PBSA market through new partnerships and acquisitions. In December 2024, Real Estate at Goldman Sachs Alternatives, in collaboration with Generation Partners, acquired two UK student accommodation assets in Bournemouth and Cardiff, comprising 907 beds, followed by the acquisition of Portswood House in Southampton in July 2025, adding 435 beds to their UK portfolio. These investments align with the firm's continued conviction in the UK PBSA sector, driven by favorable demographic trends and supply/demand fundamentals. Beyond the UK, a venture led by Goldman Sachs Alternatives committed €550 million of equity in March 2026 to develop and operate PBSA assets across France, becoming the majority shareholder in Urban Campus Group. The firm has also been an investor in student housing in the United States, including providing over $1 billion in student housing loans in 2020 and acquiring properties such as the Commons at Sawmill in Flagstaff, Arizona, in partnership with Coastal Ridge Real Estate.