
Goldman Sachs Merchant Banking Division
Goldman Sachs Merchant Banking Division (MBD) is the primary center for Goldman Sachs' long-term principal investing activity, spanning private equity, growth equity, private credit, real estate, and infrastructure. Formed in 1998, MBD has grown to approximately $100 billion in assets under management and is now part of Goldman Sachs Asset Management's private equity platform.
Average disclosed round size is $349.7M (across 24 rounds with reported amounts).
Portfolio
26
Fund Size
$9.7B
Top Stage
Series C
Last 12 Mo
10
Team
Anthony Arnold
Managing Director
Harsh Nanda
Managing Director
Jeff Bernstein
Managing Director
Jose Barreto
Managing Director
Michele Titi-Cappelli
Managing Director
Nikita Bear
Managing Director
Stephanie M. Hui
Head of Asia Pacific Private Equity Investing, Global Co-Head of Growth Equity
Adrian M. Jones
Chairman of Private Equity
Bradley J. Gross
Global Co-Head of Private Equity
Leonard Seevers
Head of Digital Investments, Goldman Sachs Alternatives
Michael Bruun
Global Co-Head of Private Equity
Nicole Agnew
Global Head of Evergreen Private Equity
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
| Unknown | — | Mar 2026 | |
| Growth | $5B | Feb 2026 | |
| LLearnWell | Unknown | — | Feb 2026 |
| Series C | $75M | Feb 2026 | |
| Series E | $425M | Jan 2026 | |
| Series C | $100M | Jan 2026 | |
| Series C | $100M | Dec 2025 | |
| Series D | $70M | Nov 2025 | |
| Growth | $225M | Nov 2025 | |
| Series F | $100M | Nov 2025 | |
| Series B | $30M | Jun 2025 | |
| Series D | $120M | May 2025 | |
| Series C | $90M | Apr 2025 | |
| Series D | $450M | Mar 2025 | |
| Series C | $75M | Mar 2025 | |
| Series C | $125M | Feb 2025 | |
| Series B | $115M | Oct 2024 | |
| Series B | $100M | Sep 2024 | |
| Series B | — | Jul 2024 | |
| Series C | $150M | Jul 2024 | |
| Growth | $650M | Jun 2024 | |
| Series B | $105M | May 2024 | |
| Series C | $88M | Apr 2024 | |
| Series D | $110M | Mar 2024 | |
| IInhabit IQ | Growth | — | Dec 2020 |
Top Co-Investors
Last updated: 7 September 2026