Goldman Sachs’s co-head of private wealth Robert Mullane who co-leads the unit with Chris French said Goldman has been upping its wealthy clients’ exposure to private markets. In January, it set up a capital solutions group to grow its private credit business, while expanding the alternatives investment team in its asset and wealth management division. Mullane says Goldman’s private wealth clients are “very interested” in private credit. They can access this through evergreen, semi-liquid funds Goldman has available via its asset management business and partnering with external managers. Clients are also interested in the pre-IPO market, Mullane adds, even though this has been a “very tough place to be” over the past few years. Goldman has given its ultra rich clients exclusive access to buzzy startups, such as $90bn payments and billing firm Stripe and British banking unicorn Revolut. “It’s still early in determining whether the IPO market will come back to the levels that it has done historically. But certainly we think there are great businesses to own both on the private side and on the public side,” he says.