Goldman Sachs has a well-burnished reputation for handling the biggest deals for the world’s top companies. So, when in mid-2019 it announced the formation of its new cross-markets group (CMG), aimed at expanding its coverage of mid-market corporate and financial sponsor clients, it certainly raised a few eyebrows.
But after three full years, the group, which targets corporates with a valuation of up to $2bn, is still going strong and remains a key focus for the firm, says David Friedland who heads up CMG. He estimates that before the establishment of the group, Goldman covered around 2800 mid-market companies — that figure is now closer to 4500. The team has also grown significantly across the Americas and Europe through a combination of internal transfers and external senior hires.
