Goldman Sachs Asset Management, L.P. (New York)

Goldman Sachs Asset Management, L.P. is a large advisory firm based in New York. It manages $902.46 billion of regulatory assets for 46,658 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Goldman Sachs Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Goldman Sachs Asset Management: assets under management

The assets under management (AUM) of Goldman Sachs Asset Management, L.P. is $902.46 billion. The firm's AUM has grown by 12545% since the beginning of its operation, and $156.37 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $874.55 billion in discretionary accounts and $27.91 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $28.34 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.77 million.

Goldman Sachs Asset Management has custody of $363.97 billion in cash and securities for 876 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 27% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in state and local bonds form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Goldman Sachs Asset Management, L.P. for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Goldman Sachs Asset Management serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, banking or thrift institutions, business development companies, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Goldman Sachs Asset Management is investment companies with 178 clients and $329.58 billion of assets under management. Among the 13 most similar advisory firms, Goldman Sachs Asset Management has the 5th lowest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $900.72 billion for 13,215 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

Goldman Sachs Asset Management also advises several private funds. Namely, twenty eight hedge funds, five real estate funds, three hundred twenty other private funds, and eighty five private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $100,000,000.

Careers at Goldman Sachs Asset Management, L.P.

The company employs 1,366 people that are either part- or full-time employees. 66 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 1 indirect owner.

Based in New York

The principal office where Goldman Sachs Asset Management, L.P. performs its advisory services is located at 200 West Street, New York, NY 10282, which is also the mailing address of the firm. An additional office of the firm is in West Palm Beach, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-902-1000 or by fax 212-357-5281. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at gsam.com and its LinkedIn profile.

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