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Goldman Sachs' Sumit Rajpal is retiring, dealing a blow to CEO David Solomon's plan to build a Blackstone-like alternatives investment platform

Goldman Sachs' Sumit Rajpal is retiring, dealing a blow to CEO David Solomon's plan to build a Blackstone-like alternatives investment platform
Reuters



Goldman Sachs partner Sumit Rajpal is retiring from the bank, according to people with knowledge of the matter.




He was slated to be one of the lead investors on Goldman's eighth private equity fund. The fundraising is planned to begin next week, with an aim of raising $8 billion and announcing a first close at the end of March, according to Reuters.




Andrew Wolfe,




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Another Goldman partner is exiting, and this time the departure may take a bite out of the firm's growth plans.
Sumit Rajpal, one of three co-heads of a merged alternative investing unit created by David Solomon last year, has announced his resignation, according to people with knowledge of the talks.
His retirement leaves Andrew Wolfe as the most senior investing executive left from Goldman's old merchant banking division. Wolfe is also in talks to resign from the firm as soon as next week, though he could still decide to stick around, according to people with knowledge of those discussions.
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