Goldman Sachs Eyes Palmer Square Capital, $37 Billion in Assets Under Management
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JAKARTA - Goldman Sachs Group Inc. is in talks to acquire Palmer Square Capital Management, a credit management firm that manages approximately $37 billion in assets. Goldman Sachs is reportedly the leading bidder in the acquisition process for the Kansas-based company. Palmer Square is led by married couple Chris Long and Angie Long and has become one of the largest issuers of collateralized loan obligations (CLOs). According to Bloomberg, citing sources close to the matter, the two companies are still in the negotiation phase to reach an agreement. No final decision has been made and discussions could still fail without a transaction. The source requested anonymity as this information has not yet been made public. A spokesperson for Goldman Sachs declined to comment, while a representative for Palmer Square did not respond to requests for comment.Accelerating Asset Management Expansion Goldman Sachs has long been known as a leading advisor in corporate acquisition transactions. However, its track record as a corporate acquirer is considered more mixed. Over the past year, Goldman Sachs has stepped up its acquisition activities to grow its asset management business, which now manages approximately $4 trillion. "We have some gaps. We've looked very, very carefully at areas that could fill those gaps," said Goldman Sachs CEO David Solomon at an industry conference last week...
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