Former Goldman partners launch 5C Investment Partners private credit fund

Former Goldman Sachs partners Tom Connolly and Mike Koester are launching a new New York-based firm called 5C Investment Partners to capitalize on the growing private credit sector. Private credit firms and alternative asset managers are increasingly stepping in to provide multi-billion-dollar financing to companies, filling the void left by traditional banks.

Connolly and Koester have a history of expertise in private credit, having played key roles in developing Goldman Sachs' direct lending business and raising a substantial $10 billion credit fund after the Bear Stearns collapse. 5C Investment Partners defines itself as a credit-focused alternative investment firm, initially concentrating its efforts in the United States but with plans for potential expansion into the European market.