Goldman Sachs Asset Management's alternative investments platform has raised over $20 billion for its latest senior direct lending fund, West Street Loan Partners V. 

This fund focuses on supporting private equity-backed global businesses and has already committed $4 billion across 37 portfolio companies. Direct lending, a significant segment of private credit, has grown rapidly due to fewer regulatory hurdles for non-bank entities. Goldman Sachs plans to expand its private credit portfolio from $130 billion to $300 billion within five years.

The latest fund secured $13.1 billion in equity capital, $550 million in co-investment vehicles, and $7 billion in managed accounts. Capital was raised from both existing and new investors, along with contributions from Goldman Sachs and its employees.

Finsum: Direct lending is one of the biggest streams of private credit and growing with the focus on niche assets.