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Goldman Sachs’s private-equity business has been a ‘black box,’ but now it’s opening up

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The name Goldman Sachs conjures images of white-shoe investment bankers cutting multibillion-dollar M&A deals or underwriting major initial public offerings.

Or it might bring to mind Goldman’s massive trading floors, where stocks, bonds, commodities and currencies are bought and sold on behalf of institutional clients and wealthy individuals.

For investors, Goldman Sachs Group Inc.
GS
is one of only two banks, along with JPMorgan Chase & Co.
JPM,
included among the 30 blue-chip stocks in the Dow Jones Industrial Average
DJIA.

Less visible is Goldman’s role as a major player in the private-equity business.

‘Private equity is a bit of a black box for Goldman Sachs and other big banks in the business. There’s not been a lot of transparency or disclosure, although the last couple of…

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