Goldman Sachs is stalking pension funds for cut-price real estate, following last week’s bond market crisis.
UK pension funds have been selling off illiquid assets since chancellor Kwasi Kwarteng’s mini-Budget sparked turmoil in the markets, forcing them to raise cash urgently.
Goldman Sachs is among those poised to pounce as funds move to sell more illiquid holdings, including property, private credit and stakes in buyout funds.
“We are seeing discounts of 20 to 30% for a high-quality portfolio,” said Gabriel Möllerberg, a managing director at Goldman Sachs Asset Management. “It’s absolutely an opportunity.”
Blackstone also has a unit trawling pension scheme holdings, some of which are now trading far below their face value.
