Goldman Sachs Asset Management has launched preliminary talks with investors to raise at least $10 billion for a new global direct lending fund, according to people familiar with the matter. The fund would mark a significant expansion of Goldman's private credit offerings as the firm seeks to capitalize on growing demand for alternative lending solutions. This move comes as traditional banks face increasing regulatory constraints on their lending activities.

Direct lending has become a cornerstone of Goldman's asset management strategy, with the firm already managing billions in private credit assets. The proposed $10 billion fund would target institutional investors seeking higher yields in a low-interest-rate environment. Goldman's move mirrors similar efforts by other major asset managers to expand their private credit capabilities, as companies increasingly turn to non-bank lenders for financing.

The timing of Goldman's fundraising push is notable, as private credit has emerged as one of the fastest-growing segments of the asset management industry. With traditional lending markets remaining volatile, Goldman is positioning itself to capture a larger share of the direct lending market through this new fund. The firm's established relationships with corporate clients and investment banking expertise could provide a competitive advantage in sourcing deals.