Richard Gnodde, CEO of Goldman Sachs International: The M&A and IPO market will not grow strongly in 2024
January 18, 2024 at 09:11 am EST
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(MT Newswires) -- Richard Gnodde, CEO of Goldman Sachs International, highlights the resilience of the US economy, which, contrary to gloomy expectations, has seen its stock market jump by almost 24%. For 2024, he foresees a buoyant economic environment, thanks to the reduction in interest rates. Gnodde also points to wealth management as a key area of expansion for Goldman Sachs, emphasising its dedicated platform. Turning to regional economies, the CEO identifies opportunities in Japan, where the return of inflation could lead to a change in monetary policy, and in India, where economic activity is booming. For M&A and IPOs, Richard Gnodde notes that last year buyers were reluctant to pay the price demanded by sellers. Despite an improvement in the market, he believes that 2024 will not see strong growth.
Goldman Sachs BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The Company seeks to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. It may also originate covenant-lite loans, which are loans with fewer financial maintenance covenants than other obligations, or no financial maintenance covenants. In addition to investments in United States middle-market companies, it may invest a portion of its capital in opportunistic investments, such as in large United States companies, foreign companies, stressed or distressed debt, structured products or private equity. It invests in various sectors, including automobiles, chemicals and financial services. Its investment advisor is Goldman Sachs Asset Management, L.P.
GOLDMAN SACHS BDC, INC. 
