Key insights
- Goldman Sachs' Private Equity arm acquired FGI Worldwide, a working capital financing firm. This move signals Goldman's continued investment in alternative lending and financial services for SMEs. While the immediate impact on US equities is limited, it reflects Goldman's strategic growth initiatives and positive outlook on the sector.
NEW YORK - Goldman Sachs’ Private Equity business has acquired FGI Worldwide LLC, a provider of working capital financing and trade credit insurance solutions, according to a press release statement issued today.
FGI, which has operated for 25 years, specializes in asset-based lending and multi-jurisdictional working capital solutions for businesses. The company offers financing through three business units: FGI Finance, FGI Risk, and FGI Tech. FGI Tech operates TRUST, a web-based credit insurance management platform.
Sami Altaher, co-founder and president of FGI, has been appointed chief executive officer, succeeding David DiPiero. Altaher co-founded the company with DiPiero and Joseph Albertelli.
"I am incredibly proud of what we have built at FGI alongside my co-founders David DiPiero and Joseph Albertelli, and I am honored to take on the role of CEO as FGI enters its next phase of growth," Altaher said in the statement.
Anthony Arnold, partner within Private Equity at Goldman Sachs, said the firm is FGI’s first institutional investor. "FGI has built a differentiated offering supported by market-leading underwriting expertise and a technology-driven operating platform," Arnold stated.
Financial terms of the transaction were not disclosed.
FGI maintains headquarters in New York City with offices across the United States, Canada, and the United Kingdom. The company serves small and medium-sized enterprises.
Goldman Sachs (NYSE:GS) operates an alternatives investment platform with over $625 billion in assets. The firm’s Private Equity business, established in 1986, has invested over $75 billion since inception.The investment bank, valued at $289.7 billion, has delivered a 63% return over the past year, trading at $945 per share. According to InvestingPro analysis, Goldman Sachs remains a prominent player in the Capital Markets industry, with the stock currently trading near its 52-week high. InvestingPro offers 10 additional exclusive tips about Goldman Sachs, along with comprehensive Pro Research Reports available for this and 1,400+ other US equities, transforming complex Wall Street data into clear, actionable intelligence.
Keefe, Bruyette & Woods, A Stifel Company, served as financial advisor and Blank Rome LLP served as legal counsel to FGI. Houlihan Lokey served as financial advisor and Sidley Austin LLP served as legal counsel to Goldman Sachs Alternatives.
In other recent news, Anthropic is nearing the completion of a $1.5 billion joint venture with several Wall Street firms, including Blackstone and Goldman Sachs, to provide artificial intelligence tools to private-equity-backed companies. Goldman Sachs is set to be a founding investor, contributing approximately $150 million to the venture. Meanwhile, Kashable has secured $60 million in Series C funding, led by Sustainable Investing at Goldman Sachs Alternatives, with Goldman committing up to $50 million. This funding includes an initial $25 million investment, with an additional $25 million subject to conditions.
Additionally, Goldman Sachs has adjusted its US recession probability to 25%, down by 5 percentage points, and delayed its forecast for Federal Reserve rate cuts to December 2026 and March 2027. The bank also highlighted emerging supply pressures in European economies, with the Euro Area’s composite PMI falling below expectations. In contrast, the UK’s composite PMI exceeded forecasts, indicating stronger economic performance compared to the Euro Area. Furthermore, executives like Elon Musk and Larry Fink have been invited to join the US delegation to China, as confirmed by a White House official.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.