- The Goldman Sachs asset management unit announced it named Raanan Agus and Michael Brandmeyer as the co-heads of alternative investments and manager selection
The Goldman Sachs asset management unit announced it has named Raanan Agus and Michael Brandmeyer as the co-heads of alternative investments and manager selection as part of a reshuffling of leadership tied to the creation of a separate group targeting private markets.
Agus and Brandmeyer are succeeding Chris Kojima — who is now co-leading the newly formed alternatives capital markets and strategy group inside the merchant banking division, according to Institutional Investor.
The new group — which is called ACMS — is going to “lead the coordination and expansion of our client engagements in alternatives, across both direct investing strategies and open-architecture strategies.” And the division will partner with Goldman’s merchant banking and asset management units.
The alternative investments and manager selection business (AIMS) at Goldman Sachs is advising institutional investors and private clients on private equity, credit, hedge funds, real estate, etc. And the biggest part of the AIMS business is manager selection. This group has $250 billion of assets under management and it is benefiting from strong growth in private markets in the past decade.
Brandmeyer and Agus are now the co-chief investment officers for AIMS. AIMS also buys stakes in asset managers as well as interests in private equity portfolios through the secondary market.
Agus had previously headed up direct alternatives within Goldman Sachs Asset Management and will continue overseeing the unit’s energy and infrastructure group along with Goldman’s special purpose acquisition company called GS Acquisition Holdings Corp.
Brandmeyer has been working with AIMS since it was created in 2008 and he was previously the co-head of the group’s secondaries business.
Kojima is going to co-lead ACMS along with Michael Koester, the chief commercial officer for Goldman’s merchant banking division who is overseeing areas like product development and fundraising.
AIMS is going to remain within the consumer and investment management division at Goldman Sachs, which also oversees Goldman Sachs Asset Management.
