Goldman Sachs Vintage Funds, the private equity secondary division of Goldman Sachs Private Equity, has acquired two European buyout funds managed by SG Capital Europe, a private equity manager formerly owned by Société Générale.
The two funds, managed by a team of professionals based in Paris, Munich and Milan, have invested over €300 million of equity in European companies since 1997.
Goldman, which is currently raising its third fund dedicated to transactions of this kind, agreed to pay $220 million for the assets. The firm is to replace Soc Gen as the funds’ sole limited partner. SG Capital Europe, which is led by senior partner Philippe Sevin, will continue to manage the investments.
Goldman has also agreed to sponsor a new fund launched by SG Capital. The firm will make a $180 million cornerstone investment, in addition to which SG will seek to raise third party capital.