Goldman Sachs Asset Management is targeting 13 billion for a new mezzanine debt fund designed to capitalize on disruptions in credit markets, according to people familiar with the matter. The fund represents a significant bet by the asset manager that market dislocations will create attractive opportunities for junior debt investments.

Mezzanine financing sits between senior debt and equity in a company's capital structure, offering higher yields to compensate for increased risk. Goldman's move comes as investors navigate a complex environment marked by rising interest rates and economic uncertainty. The strategy allows the firm to potentially profit from companies struggling with higher borrowing costs while providing needed capital.

The fund's launch underscores Goldman's continued push into alternative credit strategies as traditional fixed-income markets face headwinds. By targeting junior debt specifically, the asset manager aims to generate returns that outpace conventional bond investments. The scale of the fundraising effort suggests strong institutional appetite for yield-enhancing strategies in the current market environment.