Goldman Sachs Launches Private Markets Platform for Direct Stakes in SpaceX, Stripe

Goldman Sachs launched a dedicated alternative investments platform to give wealthy clients direct stakes in private companies like SpaceX, Stripe, and Canva, consolidating its direct investment operation with a new secondary advisory group led by Matt Doherty. The bank posted record Q2 2026 revenue of $20.34 billion, up 39% year-over-year, with net earnings of $6.63 billion, and is steering clients toward AI infrastructure investments, particularly data centers.

Goldman Sachs Launches Private Markets Platform for Direct Stakes in SpaceX, Stripe - Goldman Sachs created an alternative investments platform combining its direct investment operation with a new secondary advisory group, led by Matt Doherty 1 https://www.cnbc.com/2026/07/21/goldman-sachs-private-markets-platform.html - The platform targets mature private companies with proven products and substantial revenue, including names like SpaceX, Stripe, and Canva 2 https://www.benzinga.com/markets/private-markets/26/07/60625590/goldman-sachs-wants-its-wealthy-clients-in-on-the-next-spacex-before-it-goes-public - Goldman posted record Q2 2026 revenue of $20.34 billion, up 39% year-over-year, with net earnings of $6.63 billion 3 https://finance.yahoo.com/markets/stocks/articles/goldman-sachs-q2-2026-earnings-120234207.html - The firm is steering private-market clients toward AI infrastructure investments, particularly data centers 2 https://www.benzinga.com/markets/private-markets/26/07/60625590/goldman-sachs-wants-its-wealthy-clients-in-on-the-next-spacex-before-it-goes-public - Goldman shares trade near $1,093, giving the bank a market capitalization of roughly $323 billion 4 https://www.google.com/finance/beta/quote/GS:NYSE Goldman Sachs has launched a dedicated alternative investments platform designed to give wealthy clients and family offices direct stakes in high-profile private companies before they go public, according to an internal memo reported by CNBC on July 21 1 . The reorganization consolidates the bank's existing alternatives business with two newly formed teams under Matt Doherty, who continues to oversee Goldman's broader alternatives operation. The platform combines a private company investments team — assembled by merging Goldman's fiduciary single-asset investment unit with its direct investment operation serving family offices — with a secondary advisory group that will facilitate buying and selling of private stakes 2 . Kristin Olson, Goldman's global head of alternatives for wealth, is helping lead the initiative. The move formalizes a business Goldman has operated informally for roughly two decades. The bank previously brokered private stakes in Facebook ahead of its 2012 IPO, and more recently in SpaceX, Stripe, and Canva 1 . The new structure reflects surging client demand as private companies stay private longer and reach valuations once reserved for public markets. The Platform Goldman's alternative investments platform is organized around two core capabilities. The first is direct investment in individual private companies — bypassing the traditional fund-of-funds approach that has long dominated wealth management. The second is a secondary advisory desk that helps clients buy or sell existing private stakes, providing liquidity in a market that has historically been opaque and illiquid 2 . The bank is deliberately avoiding early-stage venture bets. Instead, it is concentrating on mature private companies that already have proven products, substantial revenue, and a credible route to profitability 1 . That focus distinguishes the platform from venture capital and positions Goldman as an intermediary for late-stage private deals where risk profiles are lower but entry tickets remain large. Why It Matters The platform launch arrives at a moment when the boundaries between public and private markets are blurring. Companies like SpaceX, valued at over $350 billion on secondary markets, and Stripe, which was valued at $91.5 billion at its last funding round, have remained private far longer than predecessors of similar scale 1 . That trend has locked out all but the most connected investors from significant value creation. Goldman is also directing clients toward physical infrastructure supporting artificial intelligence systems, particularly data centers — an area where private capital demand is accelerating as hyperscalers race to build out compute capacity 2 . The AI infrastructure theme aligns with broader Goldman advisory activity; the bank advised on $1.2 trillion in announced deal volume in the first half of 2026 . 3 https://finance.yahoo.com/markets/stocks/articles/goldman-sachs-q2-2026-earnings-120234207.html For Goldman, the platform deepens its wealth management franchise at a time when asset and wealth management revenues rose 20% year-over-year to $4.6 billion in Q2 2026 3 . CEO David Solomon has made growing recurring fee revenue from asset management a strategic priority, and private markets carry higher fee margins than traditional public-market products. Goldman's Record Quarter The platform launch comes on the heels of Goldman's strongest quarter ever. The bank reported record net revenues of $20.34 billion for Q2 2026, up 39% from a year earlier, with net earnings of $6.63 billion — a 78% year-over-year increase 3 . Diluted earnings per share reached $20.98. Global Banking & Markets produced record revenues of $15.5 billion, powered by a 72% surge in equities trading to $7.42 billion 3 . Investment banking fees hit $3.40 billion, up 55%, as large-cap corporate M&A volumes rose 90% through the first half of the year . Goldman returned $5.36 billion to shareholders in the quarter, including $4.0 billion in buybacks. 3 https://finance.yahoo.com/markets/stocks/articles/goldman-sachs-q2-2026-earnings-120234207.html Goldman shares trade near $1,093, up roughly 57% from their 52-week low of $694, giving the bank a market capitalization of approximately $323 billion 4 . What's Next The alternative investments platform positions Goldman to capture a larger share of the estimated $13 trillion global private markets industry, which has grown as institutional and high-net-worth investors seek returns uncorrelated with public equities. The secondary advisory capability is particularly significant: as more capital flows into private companies, demand for liquidity solutions — ways to exit positions without waiting for an IPO — is growing rapidly. Goldman faces competition from rivals including JPMorgan, Morgan Stanley, and dedicated platforms like Forge Global and EquityZen that have built secondary-market infrastructure for private shares. But Goldman's advantage lies in its investment banking relationships, which give it access to deal flow and company management teams that smaller platforms lack. The platform's success will depend in part on the IPO market. A sustained reopening of public listings would give private-market investors more exit options, potentially boosting demand for pre-IPO stakes. Goldman's top-ranked M&A advisory franchise and its equities distribution network give it a natural flywheel between private placement and eventual public listing. Companies mentioned Further sources 1 CNBC: Goldman Sachs creates private markets platform as rich investors seek the… ↗ https://www.cnbc.com/2026/07/21/goldman-sachs-private-markets-platform.html 2 Benzinga: Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before … ↗ https://www.benzinga.com/markets/private-markets/26/07/60625590/goldman-sachs-wants-its-wealthy-clients-in-on-the-next-spacex-before-it-goes-public 3 Yahoo Finance: Goldman Sachs Q2 2026 earnings beat on record equities trading ↗ https://finance.yahoo.com/markets/stocks/articles/goldman-sachs-q2-2026-earnings-120234207.html 4 Google Finance: Goldman Sachs Group Inc GS stock quote ↗ https://www.google.com/finance/beta/quote/GS:NYSE The stories that matter, in one email. Free — unsubscribe anytime.