Goldman Sachs Asset Management

We believe active ETFs in the high yield space have proven to be a game-changer. Active ETFs can provide investors with liquid, transparent, and market-efficient access to high yield bonds, which may enhance income potential and manage downside risk through the combined advantages of active management and ETF flexibility. Learn more about why we believe active management is key for investors to consider when looking to access high yield securities via an ETF wrapper: http://ms.spr.ly/6045tTjT1

At our recent 2025 Alternatives Summit, we brought together leaders across finance, geopolitics, technology, and culture. Our discussions delved into the themes defining today's dynamic landscape, providing insights for strategic navigation. We believe the combination of economic strength and technological innovation is creating a favorable environment for strategic dealmaking, with private market opportunities expanding through evolving industry dynamics like evergreen funds and diverse investor perspectives. Read our recap of the event: http://ms.spr.ly/6049trL5h

Ready for 2026? Our Investment Outlook—Seeking Catalysts Amid Complexity—highlights potential drivers of returns across public and private markets for the year ahead. Explore our views on the investment backdrop, asset class opportunities, and portfolio construction themes: http://ms.spr.ly/6046trBWg

We are pleased to announce that our Hybrid Capital team participated in SKIMS’s recent $225mm capital raise. SKIMS plans to use proceeds from the investment to continue fueling its physical retail and international expansion efforts. “SKIMS stands as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear,” said Beat Cabiallavetta, our global head of Hybrid Capital, noting that “we look forward to partnering with management to pursue significant opportunities and deliver disruptive, sustained growth.” Read the press release: http://ms.spr.ly/6049t3VYz

We are excited to announce that our Private Equity team has entered into a definitive agreement to form a new strategic partnership with Excel Sports Management. Excel Sports Management is an industry-leading sports agency that represents iconic talent, blue-chip brands, and marquee properties, offering unparalleled expertise, influence, and growth across the global sports marketplace. The agency’s talent division is a leader across multiple sports including basketball, baseball, golf and football, with a roster that features rising stars, MVPs, all-stars and Hall-of-Famers. Additionally, Excel’s brand marketing, commercial properties and executive search business segments position the Company at the heart of the fast-growing sports ecosystem. Sports agencies are at the nexus of live entertainment and media, driving powerful opportunities for innovation in fan engagement and continued investment. As the broader sports industry expands, investors are finding new pathways to unlock value creation, making it one of the most exciting frontiers for potential growth and investment in the coming years. We look forward to being part of Excel Sports Management’s journey. Read more in the press release: http://ms.spr.ly/6049tMS5L

We recently hosted our annual Accelerator CEO Summit in New York, where we welcomed over 50 CEOs from our portfolio companies. Our dynamic two-day event brought together leaders from across industries for a powerful exchange of insights on the most impactful value-creation levers in today's rapidly evolving financial landscape. The event featured in-depth discussions on pragmatic innovations in AI, operating excellence, talent, leadership, and growth acceleration, with a bold and visionary focus on enhancing performance across our portfolio. Learn more about our Value Accelerator and our approach to partnering with companies to accelerate growth and value creation: http://ms.spr.ly/6048tKn0j

We believe small cap stocks present a compelling investment opportunity aided by interest rate cuts, attractive valuations, accelerated earnings, and increased dealmaking activity. While these tailwinds create a supportive backdrop, we believe capturing alpha-driven returns—in the US and internationally—requires an active investment approach to help identify mispriced assets and avoid potential pitfalls. Explore our views: http://ms.spr.ly/6043tyaCW

We are pleased to announce that our Growth Equity team led the pre-IPO funding round of $435 million of Armis, the cyber exposure management and security company. Armis' unique approach to cyber exposure management provides comprehensive visibility and control, turning blind spots into intelligence. We believe this investment will fuel Armis' product innovation, market expansion, and strategic acquisitions, further solidifying its position in the cybersecurity landscape. Read more in the press release: http://ms.spr.ly/6047tyRd7.

We are pleased to announce that we signed a definitive agreement for the sale of the Thermal Division of Boyd Corporation to Eaton, for $9.5 billion. Boyd is a leading global thermal technology innovator that manages increasingly complex heat challenges with liquid cooling systems for cloud compute, AI data centers, aerospace and defense, and other applications. Under our ownership, Boyd accelerated its strategic transformation toward high growth end markets, enhanced the go-to-market strategy (including hyperscale data centers), invested in R&D, uplifted operations and IT, built out a global network of best-in-class manufacturing sites, and completed ten strategic acquisitions. Read the press release: http://ms.spr.ly/6048tGPxO

We are excited to have won the Liability-Driven Investing (LDI) category at the 2025 Chief Investment Officer Industry Innovation Awards, highlighting the leadership and global capabilities of our LDI business in the institutional investing market. We believe these awards reflect our continuing commitment to innovation on behalf of our clients. Read more about the awards: http://ms.spr.ly/6041tESKT 📷: Casey Fatchett