Goldman Sachs in talks to acquire Palmer Square, Bloomberg says
Source: Investing.com ·
Investing.com -- Goldman Sachs Group Inc (NYSE:GS) has emerged as the lead bidder to acquire Palmer Square Capital Management, a credit-focused asset manager overseeing $37 billion, according to reporting from Bloomberg, citing people familiar with the matter. The potential transaction marks the latest step in Goldman’s ongoing effort to bolster its $4 trillion asset management division. While…
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Investing.com -- Goldman Sachs Group Inc (NYSE:GS) has emerged as the lead bidder to acquire Palmer Square Capital Management, a credit-focused asset manager overseeing $37 billion, according to reporting from Bloomberg, citing people familiar with the matter. The potential transaction marks the latest step in Goldman's ongoing effort to bolster its $4 trillion asset management division. While discussions remain ongoing and could still end without a deal, the negotiations underscore the Wall Street firm's sharp focus on filling strategic product gaps through targeted acquisitions. Founded by Chris and Angie Long, Kansas-based Palmer Square has established itself as one of the largest issuers of collateralized loan obligations (CLOs), expanding rapidly alongside the broader growth in bundled corporate debt vehicles. The target firm's primary attraction lies in its $27 billion CLO platform, an asset class that has seen the overall U.S. market quadruple to more than $1.3 trillion over…