Goldman Sachs is expanding its wealth and asset-management push with a new alternative investments platform that merges the firm’s existing alternatives business with two dedicated teams to offer direct investments in individual private companies and liquidity services for those stakes, aimed at wealthy clients and family offices. The platform focuses on direct investments in later-stage private companies rather than funds, granting access to high-growth firms before they go public. This move reflects Wall Street’s shift toward fee-based wealth management as many fast-growing companies remain private longer, preserving gains for early investors. Goldman has long facilitated private-market investments and is formalizing and scaling this capability through Apex family-office services and a unified platform. Separately, Goldman also launched a proprietary public-markets platform for upper high-net-worth clients to consolidate and streamline access to public-market strategies without fees. Together, the initiatives illustrate Goldman’s strategy to diversify revenue beyond trading and investment banking by expanding offerings across both private and public markets for its wealth-management clients.