The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc.

April 13, 2005 06:00 ET

Goldman Sachs Closes GS Capital Partners V at $8.5 Billion


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE GOLDMAN SACHS GROUP, INC.

NYSE SYMBOL: GS

APRIL 13, 2005 - 06:00 ET

Goldman Sachs Closes GS Capital Partners V at $8.5
Billion

NEW YORK--(CCNMatthews - Apr 13, 2005) -

The Goldman Sachs Group, Inc. (NYSE: GS) today announced it has
completed fundraising for GS Capital Partners V with $8.5 billion in
committed capital. This is Goldman Sachs' fifth global, diversified fund
dedicated to making privately negotiated equity investments.

"We are particularly pleased by the high rate of returning investors to
our Fund and the fact that the firm and its employees continue to be
such strong supporters of this business," said Richard A. Friedman,
Managing Director and Head of Goldman Sachs' Principal Investment Area.
"With GS Capital Partners V, Goldman Sachs is well positioned to
continue to participate in the corporate buyout market, which has grown
in scale over the past few years."

Like its predecessors, GS Capital Partners V will seek long-term capital
appreciation by committing equity to high-quality companies with
superior management in a variety of situations, including leveraged
buyouts, recapitalizations, and growth investments to fund acquisition
or expansion. The Fund will invest across a broad range of industries
and will seek to create value through meaningful involvement with
portfolio companies' strategic decision-making and operating philosophy.

Goldman Sachs has committed in excess of $2.5 billion, or 30%, of the
Fund's total capital. Other investors in GS Capital Partners V are part
of the firm's network of qualified institutional and high net worth
clients.

With a team of 100 professionals in New York, San Francisco, London,
Hong Kong and Tokyo, the Principal Investment Area of Goldman Sachs has
expertise in a variety of industries. Past investments include: Allied
World Assurance Company; Burger King; Cognis GmbH; Executive Jet; Hexcel
Corporation; Kabel Deutschland GmbH; Kookmin Bank; Messer Griesheim
Group GmbH; Nalco Company; Orion Power Holdings; Ping An Insurance Co.
of China; Polo Ralph Lauren; R.H. Donnelley; VoiceStream Wireless;
Western Wireless; Westminster Health Care; Wincor-Nixdorf GmbH; and
Yankees Entertainment and Sports Network.

Founded in 1869, Goldman Sachs is one of the oldest and largest
investment banking firms. Goldman Sachs is also a global leader in
private corporate equity and mezzanine investing. Established in 1991,
the GS Capital Partners Funds are part of the firm's Principal
Investment Area in the Merchant Banking Division. Goldman Sachs'
Principal Investment Area has formed 11 investment vehicles aggregating
$26 billion of capital to date. With $8.5 billion in committed capital,
GS Capital Partners V is the current primary investment vehicle for
Goldman Sachs to make privately negotiated equity investments.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Goldman Sachs Group, Inc.
    Andrea Raphael, 212-357-0025 (US)
    or
    Simon Eaton, 44-20-7-774-4102 (Europe)