Goldman Sachs is building a platform to give wealthy clients direct stakes in private companies

The group, called the alternative investments platform, will be led by Matt Doherty, who will continue to oversee the bank's broader alternatives business, the memo said. Alternative capital markets, which manage alternative investments for wealthy clients, will remain the core business within the platform.

The reorganization includes a newly formed private company investments team, assembled by merging Goldman's fiduciary single-asset investment unit with its direct investment operation serving family offices, according to the memo. Goldman is additionally setting up a secondary advisory group that will facilitate trading of private stakes and provide guidance to clients who want to unwind positions they hold away from the bank.

"There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets," Kristin Olson, Goldman Sachs' global head of alternatives for wealth, told CNBC.

Goldman steers clear of early-stage ventures, Olson said, instead concentrating on more mature companies that already have proven products, substantial revenue and a credible route to profitability. Surging interest in artificial intelligence has further fueled appetite for the asset class, and Goldman has been directing clients toward the physical infrastructure that supports AI systems, such as data centers, Olson said.

"Companies are going public at a trillion dollars," Olson told CNBC. "If you haven't participated along the way, you're clearly missing a big part of the growth cycle."

Olson noted that Goldman's track record in brokering direct stakes in mature private companies stretches back about twenty years, with past examples including Facebook $META ahead of its 2012 market debut and, more recently, SpaceX, Stripe and Canva. Rising client interest ultimately led Goldman's leadership to give the business its own dedicated structure, Olson said.

The announcement follows a strong second quarter for Goldman. The bank posted record quarterly revenue of $20.34 billion for the three months ended June 30, up 39% from a year earlier, driven by a surge in equities trading and dealmaking. Investment banking fees reached $3.40 billion, a 55% year-over-year gain.

Goldman's wealth and asset management push reflects a broader Wall Street trend. The most successful startups are staying private longer than they once did, allowing early investors to capture most of the valuation gains before public investors get a chance to participate. Goldman served as lead underwriter on the SpaceX IPO in late June, a deal structured to bring in up to $75 billion at a valuation above $2 trillion, according to Bloomberg.