Goldman Sachs launched a new alternative investments platform on July 21, 2026, designed to provide wealthy clients and family offices with direct access to private companies. The initiative integrates the firm’s existing alternatives business with two newly formed teams that focus specifically on direct stakes in individual private companies, rather than broader private equity funds. According to a memo seen by CNBC, the new group is intended to help clients buy and sell those stakes, moving away from reliance on traditional, broader fund structures.
Goldman Sachs Consolidates Alternatives Business for Private Equity Direct Stakes
The initiative aims to provide clients with earlier access to high-growth tech companies that are poised to enter public markets. This strategic move is a response to the changing landscape of capital markets, where the most successful startups are staying private for significantly longer durations than they once did, allowing early investors to capture substantial gains before public market entry.
Strategic Focus on High-Growth Private Tech
Goldman Sachs is positioning the platform to cater to clients who have expressed increasing interest in high-growth tech names. Kristin Olson, the firm’s global head of alternatives for wealth, noted that the trend of companies waiting until they reach massive valuations to go public has altered the traditional investment lifecycle. During an interview with CNBC, Olson emphasized the necessity of this new focus: There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets.
She further added, Companies are going public at a trillion dollars. If you haven’t participated along the way, you’re clearly missing a big part of the growth cycle.
Jean Altier Bohm and Kerry Blum Lead Goldman Sachs Public Markets Platform
Platform Leadership and Integration
In addition to the alternatives platform, Goldman Sachs has launched a proprietary public-markets platform for upper-high-net-worth clients. This initiative is led by Goldman veterans Jean Altier Bohm and Kerry Blum as co-heads. Blum, who will maintain her role as global head of equity structuring within private wealth management, explained that the platform pulls together various public-market solutions and strategies that had been operating on a more organic basis. We looked at and said: ‘You know what? Why don’t we take a more holistic effort in pulling together a lot of these natively organically formed offerings?’
Blum stated.
The platform will be available to Goldman’s private wealth clients, and the firm also offers some of these investment capabilities to registered investment advisors through its custody platform and third-party platforms. According to Blum, the platform will not carry a fee but will help unify strategies for distribution, educating clients on offerings and evaluating them against other portfolio options. One strategy Blum highlighted is a long-short investment approach that can help mitigate taxes for upper-high-net-worth clients. She also noted the need for wealth management solutions for investments moving from private to public markets, citing recent market activity where companies like SpaceX have launched large offerings, while firms like Anthropic and OpenAI move toward public listings.
SpaceX, Anthropic and OpenAI Drive Demand for New Goldman Sachs Investment Offerings
Feedback Loops and Market Context
The new platform serves as a centralized channel for Goldman to gather feedback from constituents and implement changes or new products. We’ll continue to work alongside our advisors and engage with our clients to make sure that they’re well aware of both what the current offering set looks like,
Blum said. If there are things that are in their mind where they think that we could help solve a problem or help provide a solution that perhaps hasn’t existed yet, that’s a great [opportunity].
The launch arrives as Goldman Sachs continues to emphasize fee-based businesses, which comprised roughly 30% of its post-provision revenue at the end of 2025. With a market capitalization of approximately $319.58 billion, the firm remains a dominant force in capital markets. According to data from GuruFocus, the firm holds a GF Score™ of 69/100, which indicates a solid performance across key metrics. However, the firm has also seen significant insider activity, with $34.9 million in shares sold by insiders in the three months leading up to the July 21 announcement. As the firm pivots toward these new platforms, it continues to operate across its established pillars of investment banking, asset management, and wealth management, maintaining its focus on providing steady revenues through its wealth and asset management divisions.
Sources: CNBC, Wealth Management.
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