Home/Fund Intelligence/Managers/Goldman Sachs
Goldman SachsGoldman Sachs
Manager file

Goldman Sachs Asset Management, L.P.

An SEC-registered investment adviser with USD 2.65 trillion of regulatory assets, registered since 1990, that manages 5 insurance-dedicated funds in our database. This file brings together those funds and what the adviser reports to the SEC about itself.

SEC file801-37591
CRD107738
Regulatory assetsUSD 2.65 trillion
Funds with an IDF Form D5
Registered since1990
Ask about these fundsForm ADV on IAPDAll managers
PPLI.com
Manager Rating
Rating in preparation
Editorial assessment on UHNW criteria
Reviewed 4 November 2026 · Q4 2026 edition
Updated every quarter
Research byPPLI.com Fund IntelligenceResearch desk
About the rating
The funds

Insurance-dedicated funds managed by Goldman Sachs

Funds and platform series in our database that file a Form D under an insurance-dedicated name and are managed by this adviser. Gross assets are as reported in the latest Form ADV that lists each fund.

Goldman SachsGoldman Sachs
Private Markets Insurance FundPrivate equity · SALI platformUSD 893.8 millionRating in preparation
Goldman SachsGoldman Sachs
Collateralized Loan Obligations (Insurance Dedicated) FundFixed income and structured credit · SALI platformUSD 831.3 millionRating in preparation
Goldman SachsGoldman Sachs
Private Markets Insurance Fund IIPrivate equity · SALI platformUSD 650.0 millionRating in preparation
Goldman SachsGoldman Sachs
U.S. Mortgages (Insurance Dedicated) FundFixed income and structured credit · SALI platformUSD 523.2 millionRating in preparation
Goldman SachsGoldman Sachs
Capital Optimized Fixed Income (Insurance Dedicated) FundFixed income and structured credit · SALI platformUSD 251.2 millionRating in preparation
The rating

The rating of Goldman Sachs Asset Management, L.P.

The rating looks only at the areas below, which matter to a family holding this manager's funds through a private placement policy. Past returns play no part: these funds do not report them in their SEC filings, and they say little about what a policy will earn.

Conduct and regulatory record

What regulators and courts have recorded against the manager, and for platform series against the platform, as the advisers report it to the SEC. Several proceedings on one set of facts count as one matter. Recent and serious matters count most, matters of other companies in the group count for less, matters of individuals are weighed by the person's role and their bearing on the business, and the size of the firm is taken into account.

Reported controls

What the adviser reports to the SEC for the fund: whether the accounts are audited every year by an accountant registered with the PCAOB and subject to its regular inspection, whether audited statements go to investors and what the audit opinion says, whether the administrator and custodian are outside the adviser's group, and what share of the assets was valued last year by a person not related to the adviser.

Depth and experience of the manager

The assets the manager runs, its investment staff and how long it has been registered with the SEC.

Investor experience. What policyholders, insurers and advisers tell us is shown separately and never changes the stars. A factual point they raise is checked against the filings, and if it holds, the data is corrected. We never publish names. Tell us about yours

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the fund or its manager, not a credit rating, not a forecast of returns and not investment advice. Read about the rating.

The adviser at a glance

Registration and size

Identity

Legal nameGoldman Sachs Asset Management, L.P.
SEC registrationRegistered investment adviser, 801-37591  IAPD
CRD number107738
Latest Form ADV25 September 2026  ADV
Registered with the SEC since25 October 1990

Assets and staff, as filed

Regulatory assets under managementUSD 2,648,903,000,000
Of which discretionaryUSD 2,569,736,000,000
Employees2,059
Of which investment advisory staff1,379
Private funds listed in Schedule D1

Regulatory assets are calculated under the SEC's Form ADV instructions and include all funds and accounts the adviser manages, not only those open to insurers. Figures come from the SEC's adviser files of November 2026.

The record

Regulatory and legal record

What the adviser itself discloses in Item 11 of its Form ADV, summarised from the disclosure pages, with a link to the filing. Item 11 is filed for the adviser as a whole, so under each matter the fund it concerns is read from the disclosure itself.

20259 May 2025

Regulatory action by Sweden's Finansinspektionen (SFSA): civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

Effective as of May 4, 2026, Sweden's Finansinspektionen (the "SFSA") issued a fine, equivalent to approximately US $162,600.00, against the Goldman Sachs Group, Inc. ("GS Group") based on a finding that, during the period between March 20, 2024 and April 9, 2025, GS Group failed to timely report changes in certain shareholdings held in proprietary accounts of one or more of its subsidiaries within the statutory time limits required under the Swedish Financial instruments Trading Act.

Sweden's Finansinspektionen (SFSA) · Decision 4 May 2026 · USD 162,600 · Concerns another company in the group · Form ADV, Item 11 disclosure
202425 September 2024

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On September 25, 2024, the Goldman Sachs groups, Inc. ("GS Group") entered into an order instituting cease and desist proceedings with the Securities and Exchange Commission (the "SEC" and the order, the "SEC order"), which alleged that GS Group and certain of its affiliates failed to timely file reports on forms 3 and 4 in accordance with Section 16(a) of the Securities Exchange Act 1934, as amended, and Rule 16a-3 thereunder.

US Securities and Exchange Commission · Order 25 September 2024 · USD 300,000 · Concerns another company in the group · Form ADV, Item 11 disclosure
202222 November 2022

Regulatory action by US Securities and Exchange Commission: civil penalty

Fund concerned: public ESG and non-ESG funds. None of the insurance-dedicated funds in this file is named.

On November 22, 2022, the Securities and Exchange Commission ("SEC") entered an order instituting cease and desist proceedings against GSAMLP. The SEC found that from April 2017 to February 2020, GSAMLP failed to adopt and implement policies and procedures reasonably designed to prevent violations of the Investment Advisers Act concerning the Investment process utilized while advising an ESG (environmental, social and governance) separately managed account strategy and two ESG mutual Funds.

US Securities and Exchange Commission · Order 22 November 2022 · USD 4.0 million · Concerns the adviser itself · Form ADV, Item 11 disclosure
202124 February 2021

Regulatory action by Finanstilsynet - the Financial Supervisory Authority of Norway: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On February 24, 2021, Finanstilsynet, the Financial Supervisory Authority of Norway concluded that Goldman Sachs Group, Inc., Goldman Sachs International, and Goldman Sachs & Co. LLC violated the notification requirement under Section 3-14 of the Norwegian Securities Trading Act, cf. Regulation (EU) no 236/2012 ("SSR") Article 5, cf. Article 9, by not notifying Finanstilsynet of net short positions within the time limit laid in accordance with SSR.

Finanstilsynet - the Financial Supervisory Authority of Norway · Decision 16 June 2021 · USD 41,939 · Concerns another company in the group · Form ADV, Item 11 disclosure
202022 October 2020

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On October 22, 2020, the Goldman Sachs Group, Inc. ("GS Group") entered into an order instituting cease and desist proceedings with the Securities and Exchange Commission (the "SEC" and the order, the "SEC order"), which alleged GS Group failed to reasonably maintain a sufficient System of Internal accounting controls between 2012 and 2015 with respect to the process by which it reviewed and approved the commitment of firm Capital in large, significant and complex transitions, such as the 1Malaysia Development Berhad ("1MDB") offerings, and that documentation prepared in connection with the 1MDB transactions did not accurately reflect certain aspects of the bond offerings, including the ...

US Securities and Exchange Commission · Order 22 October 2020 · USD 400.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure
202022 October 2020

Regulatory action by New York State Department of Financial Services: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On October 22, 2020, the Goldman Sachs Group, Inc. ("GS Group") entered into a consent order for a civil money penalty with the new York State Department of Financial Services (the "DFS", and the consent order, the "DFS order"), which alleged violations of the new York Banking Law ("Banking Law") arising out of investments by a GS Group wholly-owned subsidiary, Goldman Sachs Bank USA ("GS Bank"), in instruments related to 1Malaysia Development Berhad ("1MDB"). The Conduct described in the DFS order includes (I) the failure of GS Group to adequately detect or address certain red flags in connection with the 1MDB bond transactions; (II) GS Group's failure to escalate or address allegations of ...

New York State Department of Financial Services · Order 22 October 2020 · USD 150.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure
202022 October 2020

Regulatory action by Federal Reserve Board: cease and desist

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On October 22, 2020, the Goldman Sachs Group, Inc. ("GS Group") "on October 22, 2020, the Goldman Sachs Group, Inc. ("GS Group") entered into an order to cease and desist and order of assessment of a civil money penalty with the Board of Governors of the Federal Reserve System (the "Federal Reserve", and the order, the "Federal Reserve order"), which alleged GS Group engaged in unsafe and unsound Banking practices relating to the 1Malaysia Development Berhad ("1MDB") bond transactions that resulted from deficient policies, procedures and controls. Such deficiencies included (I) the lack of, or failure to implement, adequate compliance policies and procedures to ensure the 1MDB offerings ...

Federal Reserve Board · Order 22 October 2020 · USD 154.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure
201920 September 2019

Regulatory action by Swedish Financial Supervisory Authority (Finansinspektionen - SFSA): other sanction

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On September 20, 2019 the Swedish Financial Supervisory Authority (Finansinspektionen - "SFSA") imposed an administrative fine on the Goldman Sachs Group, Inc. ("GS Group") in the amount of 70,000 Swedish krona (sek) (approximately USD 7,200). SFSA alleges a violation by GS Group of Chapter 6, Section 3 a, subsection 1 of the Financial instruments Trading Act due to a delay in notifying a relevant change in GS Group's Holding of shares and other Financial instruments in fingerprint cards AB.

Swedish Financial Supervisory Authority (Finansinspektionen - SFSA) · Consent 19 December 2019 · USD 7,430 · Concerns another company in the group · Form ADV, Item 11 disclosure
20181 May 2018

Regulatory action by Federal Reserve Board: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Board of Governors of the Federal Reserve System (the "Federal Reserve") has alleged that: whereas the Goldman Sachs Group, Inc. ("GS Group") serves as a Foreign Exchange ("FX") dealer through certain of its indirect subsidiaries ("FX subsidiaries"), by buying and selling U.S. dollars and Foreign Currency for their own account and by soliciting and receiving orders through communications between customers and sales personnel that are executed on the spot Market ("covered FX activities"), from October 2008 through October 2012, GS Group and certain subsidiaries (together, the "firm"): (a) lacked adequate governance, compliance risk Management, compliance AND/OR audit policies to ensure ...

Federal Reserve Board · Consent 1 May 2018 · USD 54.8 million · Concerns another company in the group · Form ADV, Item 11 disclosure
20181 May 2018

Regulatory action by New York State Department of Financial Services: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The new York State Department of Financial Services (the "DFS") has alleged that: (a) certain Foreign Exchange ("FX") traders at certain affiliates of the Goldman Sachs Group, Inc. and Goldman Sachs Bank USA (together, "Goldman Sachs") engaged in improper Conduct over the period 2008 through early 2013; (b) escalation of certain compliance concerns did not always occur as required, allowing potentially improper activity to continue unnecessarily; and (c) Goldman Sachs conducted Banking business in an unsafe and unsound manner, in violation of new York Banking Law § 44.

New York State Department of Financial Services · Consent 1 May 2018 · USD 54.8 million · Concerns another company in the group · Form ADV, Item 11 disclosure
201812 January 2018

Regulatory action by Federal Reserve Board: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs Bank USA ("GS Bank") entered into an order of assessment of a civil money penalty issued upon consent pursuant to the Federal deposit insurance Act, as amended, with the Board of Governors of the Federal Reserve System (the "Federal Reserve") on January 12, 2018 (the "consent assessment"). The consent assessment related to allegations by the Federal Reserve that, prior to September 1, 2011, GS Group and GS Bank had engaged in deficient practices in residential mortgage loan servicing and foreclosure processing involving Litton loan servicing LP ("Litton"), a former subsidiary. Without admitting or denying the allegations, GS Group ...

Federal Reserve Board · Consent 12 January 2018 · USD 14.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure
20184 January 2018

Regulatory action by The Czech National Bank: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Czech National Bank ("CNB") issued an order alleging that the Goldman Sachs Group, Inc. (the "firm") failed to notify the cnb within the statutory time limit that its shares in the voting rights of a certain issuer Company had exceeded 1%, in deemed violation of Article 122(1), and in conjunction with Article 122(2), of the Capital Market undertakings Act.

The Czech National Bank · Decision 13 August 2018 · USD 33,945 · Concerns another company in the group · Form ADV, Item 11 disclosure
201621 December 2016

Regulatory action by Commodity Futures Trading Commission: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On December 21, 2016, the Commodity Futures Trading Commission ("CFTC") entered an order instituting proceedings pursuant to Sections 6(c) and 6(d) of the Commodity Exchange Act, making findings and imposing remedial sanctions (the "order") against the Goldman Sachs Group, Inc. ("GS Group") and Goldman, Sachs & co. ("GS&CO.", and together with GS Group, "Goldman") relating to attempted manipulation of the U.S. dollar International swaps and derivatives association fix ("USD ISDAFIX"), an interest rate benchmark. Specifically, the CFTC found that, from January 2007 through March 2012, certain traders on gs&co.'s interest rate products Trading desks submitted bids and offers, and executed ...

Commodity Futures Trading Commission · Order 21 December 2016 · USD 120.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure
20162 August 2016

Regulatory action by Federal Reserve Board: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Board of Governors of the Federal Reserve System (the "Board of Governors") has alleged that: (a) Goldman, Sachs & co. ("GSCo") and the Goldman Sachs Group, Inc., (together with GSCo, (the "firm") failed to monitor electronic mail for documents containing confidential Supervisory information; (b) firm employees, including senior managers, had confidential Supervisory information of the Board of Governors and other Banking regulators in their possession without the authorization required by Law; (c) a firm employee engaged in criminal theft of confidential Supervisory information of the Board of Governors and other Banking regulators, and disseminated such information to multiple ...

Federal Reserve Board · Order 2 August 2016 · USD 36.3 million · Concerns another company in the group · Form ADV, Item 11 disclosure
201627 June 2016

Regulatory action by New York Mercantile Exchange - CME Group: civil penalty

Fund concerned: none named in the filing. The matter concerns the adviser itself, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On April 25, 2016, GSAM held a long position of 2,202 May 2016 Henry Hub natural gas Futures contracts ("MAY16 NG"), which was 1,202 over the standard expiration month limit which went into effect at the close of business on April 22, 2016.

New York Mercantile Exchange - CME Group · Decision & Order of Offer of Settlement 5 October 2016 · USD 40,000 · Concerns the adviser itself · Form ADV, Item 11 disclosure
20158 December 2015

Regulatory action by Swiss Federal Department of Finance: other sanction

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Federal Department of Finance ("FDF") of the Swiss confederation alleged that the Goldman Sachs Group, Inc. ("GS Group") published twice an incomplete notification regarding the firm's Holdings in certain Securities in the period between December 12, 2013 and February 12, 2014, and published delayed notification of the firm's qualified shareholding in certain Securities exceeding the notification threshold in the period between August 19, 2014 and August 8, 2015, each in alleged infringement of Article 41 of the Swiss Federal Act on Stock exchanges and Securities Trading ("SESTA").

Swiss Federal Department of Finance · Consent 8 December 2015 · USD 20,350 · Concerns another company in the group · Form ADV, Item 11 disclosure
201528 October 2015

Regulatory action by New York State Department of Financial Services: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The new York State Department of Financial Services (the "DFS") has alleged that: (a) a former associate of Goldman, Sachs & co. (together with the Goldman Sachs Group, Inc., ("Goldman Sachs") engaged in the theft of DFS confidential Supervisory information, and that a former Goldman Sachs managing director improperly received this information without reporting it; and (b) Goldman Sachs failed: (I) to effectively supervise the associate to prevent this theft from occurring; (II) to implement and maintain adequate policies and procedures relating to post-employment restrictions for former government employees; and (III) to implement and maintain sufficient policies and procedures to ensure ...

New York State Department of Financial Services · Order 28 October 2015 · USD 50.0 million · Concerns another company in the group · Form ADV, Item 11 disclosure

The filing also reports 1 matter that concerns an individual; such matters are weighed in the rating by the person's role and are not published here. These are the matters Goldman Sachs Asset Management, L.P. reports in Item 11 of its Form ADV, filed 25 September 2026. A reported matter is a fact disclosed by the adviser, not a finding by PPLI.com. None of them concerns the insurance-dedicated funds listed above.

Reader rating

How would you rate Goldman Sachs Asset Management, L.P.?

Tap a star to give your own rating, from one to five, then add your name and email and, if you wish, a comment. Reader ratings are shown separately and never change the PPLI.com Manager Rating, which rests only on what the filings report.

Loading reader ratings.

Your name and email are used only if the research desk needs to reply, and are never published. Comments go to the desk, which checks any factual point against the filings.

Sources

  1. Form ADV of Goldman Sachs Asset Management, L.P., filed 25 September 2026: reports.adviserinfo.sec.gov, CRD 107738
  2. Adviser summary: adviserinfo.sec.gov/firm/summary/107738
  3. SEC investment adviser files, November 2026, for assets, staff and registration dates
  4. Form D filings of each fund listed: sec.gov EDGAR

About this file

Prepared by the PPLI.com research desk from the public filings listed, checked on 4 November 2026. Updated every quarter, or sooner when a new filing appears. To report an error, write to [email protected] with the filing that shows it.

Important. Educational research only, not an offer or a recommendation. A matter reported in Form ADV is a fact disclosed by the adviser, not a finding by PPLI.com.

File Goldman Sachs Asset Management, L.P.Checked 4 November 2026Published 4 November 2026
Private consultation →
Step 1 of 2

Tell us about yourself

Read our Privacy Policy before submitting. Share only the information needed to describe your question; do not include medical records or account credentials.

Continue →
✦Research assistant
✦PPLI.comResearch assistant
Explore PPLI questions and suitability factors
Ask a general question about PPLI, or explore the factors that affect suitability. Treat the answer as a starting point and check the linked sources.
Use the research with your own tax, legal and insurance advisers.
Preparing an answer
AI assistant. Educational information only. It does not determine eligibility or provide personal tax, legal, investment or insurance advice.