Goldman Sachs has entered into a strategic partnership with Israeli asset manager Phoenix Financial, which plans to deploy more than $4bn (£3bn) across global private credit opportunities.

The deal will see the firms collaborate on investments across corporate credit, asset-backed finance, real estate and infrastructure debt.

Phoenix will deploy client and corporate assets through the partnership and in return will gain access to Goldman Sachs Alternatives’ global investment capabilities across private investment-grade credit, senior direct lending and opportunistic credit strategies.

The firms will also explore further collaboration opportunities across investment, savings and insurance products, they said in an announcement.

“Goldman Sachs has invested in private credit for 30 years, expanding our platform as private credit became a capital engine for the global economy,” said David Solomon, chairman and chief executive of Goldman Sachs.

“Phoenix clients will now access attractive investment opportunities through our differentiated origination and credit selection capabilities.”

Goldman Sachs Alternatives’ private credit platform managed approximately $230bn in assets as of 30 June 2026, including direct lending and asset-based lending.

Meanwhile, Phoenix oversees more than $220bn in assets under management and has been expanding its international investment activities through partnerships with global asset managers.

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