Goldman Sachs (GS) said on Tuesday that its Asset Management unit closed its first growth equity private investment fund for acquiring minority stakes in companies. West Street Global Growth Partners closed with $5.2 billion, as one of the largest first-time growth equity funds ever. The fund will invest roughly $50 million each in “high-growth businesses with strong market positioning, high growth rates and durable business models.”

Goldman Sachs Asset Management oversees more than $2 trillion in assets. Last year it closed a $9.7 billion private-equity fund, its largest since 2007, that seeks to invest in companies with an enterprise value of about $750 million to $2 billion. The $5.2 billion in capital includes $3.7 billion of commitments from institutional and high net worth investors, as well as “a significant commitment from Goldman Sachs and its employees.”