Goldman alums set up credit-focused alternative investment firm

By Lananh Nguyen and Saeed Azhar

NEW YORK (Reuters) – Former Goldman Sachs veterans Mike Koester and Tom Connolly have opened 5C Investment Partners, an alternative investment firm focused on private credit, they said on Thursday.

Connolly spent 25 years at Goldman and served as the head of private credit in its merchant-banking division. Koester, who retired from the Wall Street giant this year, was a partner and co-president of alternative investments in its asset management unit.

The two executives led and developed leaders for important businesses at Goldman Sachs, Alison Mass, Goldman’s chair of investment banking, said in a statement. “Our people go on to leadership roles across all industries,” said Mass, who said the two executives would become important clients for the bank.