The fund will provide individual investors with access to direct private market investments managed by Goldman Sachs Asset Management. It is intended to be the first in a series of Private Markets ELTIFs, through which individual investors can access the performance and diversification benefits of private markets, the firm said in a statement. Through the Private Markets ELTIF 2023, Goldman Sachs intends to provide exposure to investments spanning a range of sectors and strategies, primarily in private equity and supplemented with a smaller allocation to higher yielding private credit.

While diversified, the composition of the portfolio is expected to reflect the areas of the market where deal flow is most active, leaning into the most compelling sectors and strategies in what is a rapidly-changing investment landscape. The fund is intended to be globally diversified. Designed in principle for high net worth investors who can make a longer-term illiquid investment, the fund will be fully funded at launch, with an expected short investment period, the firm continued.

“Institutional investors have long benefitted from private investments, which have the potential to provide higher returns, portfolio diversification, and access to unique opportunities. Now, individuals will also be able to get exposure to private investments through our Private Markets ELTIF, a fund specifically designed to meet the needs of individual investors,” Barry Fricke, EMEA head of alternatives distribution for wealth at Goldman Sachs Asset Management, said. 

Allfunds
, a division of Downing, has become the latest client of investment platform Third Financial.

The initial phase of the partnership sees Third providing its technology and custody service to support Downing Fund Managers Alternative Investment Market (AIM) Inheritance Tax (IHT) business line, meaning that it will administer around £100 million ($131 million) of assets, the firm said in a statement. The parties are committed to exploring further areas of cooperation when onboarding this business completes this month. The move signals Downing’s commitment to stability and integrity while taking advantage of Third’s leading position in the investment platform market.

Third’s Investment Platform service streamlines and automates operational processes and provides oversight of the entire investment lifecycle to mitigate risks through one single system more effectively for all clients.