Goldman Sachs has launched G-PE, a new open-ended private equity fund that will allow high-net-worth individuals to invest in buyout, growth, secondary, and co-investment deals.

The initiative is part of the bank’s broader strategy to expand its alternatives platform and capture a larger share of private market inflows.

The move signals Goldman’s intent to compete more directly with leading alternative asset managers such as Blackstone, Apollo, and KKR, which have all been expanding access to private markets via individual and institutional capital.

G-PE joins Goldman’s “G-Series” suite of funds, which also includes strategies in infrastructure, real estate, and private credit. These products are distributed through the firm’s private banking arm and wealth advisory partners.

“As more companies opt to stay private for longer and a greater share of economic growth occurs in private markets, investors will need to look beyond the public markets,” said Kristin Olson, global head of alternatives for wealth at Goldman.

The firm plans to grow alternative investment distribution via third-party wealth platforms to $8bn in 2025, up from $5bn in 2024. Additionally, Goldman intends to nearly triple the size of its asset-management distribution team for individual investors, expanding it to 60 professionals globally.