Core Viewpoint - Goldman Sachs is in discussions with the Kuwait Investment Authority for a $10 billion investment mandate aimed at enhancing its private markets strategy in the Middle East [1][2]. Group 1: Investment Details - The investment is expected to be allocated across various Goldman Sachs funds, focusing on credit, private equity, and infrastructure [2]. - The completion of the investment by KIA is not guaranteed at this stage [2]. Group 2: Regional Expansion - Goldman Sachs has recently expanded its operations in the Gulf region by opening a new office in Kuwait, which is part of its strategy to increase its presence in the Middle East [3]. - The firm's private assets under supervision currently total $374 billion, indicating a focus on growing this segment [3]. - In 2023, Goldman Sachs also opened an office in Abu Dhabi and obtained a regional headquarters license in Saudi Arabia, further solidifying its regional footprint [4].

Core Insights - Goldman Sachs is expanding its Private Wealth Management services in the Middle East by launching an onshore presence in Riyadh, Saudi Arabia, enhancing its existing office established in 2008 [1][2] - The firm aims to leverage its 'One Goldman Sachs' strategy, collaborating with various teams to provide comprehensive services to clients in the region [2] - Saudi Arabia is viewed as a significant market due to its dynamic economy and concentration of ultra-high net worth individuals, presenting substantial investment opportunities [3] Expansion Details - The new unit will focus on delivering access to Goldman Sachs' leading Private Wealth Management business, offering local and global investment opportunities [3] - To support this initiative, Goldman Sachs has appointed Yousef Alhozaimy and Khalid Soufi as private wealth advisors in Riyadh and is actively recruiting additional advisors [4] Market Position - As of September 30, 2025, Goldman Sachs had $1.8 trillion in client assets under supervision, indicating a strong market presence [5] - The firm is also streamlining operations through job cuts and the use of artificial intelligence, yet expects a net increase in its workforce by year-end [5]