Goldman Sachs Head of Asset Management Marc Nachmann said in an interview that the era of profitability driven by financial engineering and 'multiple expansion' is over, with future returns possibly focusing more on creating better growth and profits. To this end, Goldman Sachs is bringing in help from the corporate world by recruiting Darius Adamczyk, former CEO of Honeywell, to work with some investment portfolio companies that cooperate with Goldman Sachs and help improve operations. Even for a bank known for hiring high-profile consultants, hiring a 58-year-old former executive from a large industrial conglomerate is still unusual. Nachmann said that for operators who raise funds and wait for profits to roll in, the good times are over and they can no longer try to be the highest bidder to buy the company, wait for multiple expansion, and then resell. Apollo Global Management Inc. executive Scott Kleinman expressed similar views earlier this month, warning that not everything is going well.
高盛：私募“躺着发财”和大举招兵买马的时代一去不返了
The era of private equities 'getting rich while lying down' and massive recruiting is gone, according to Goldman Sachs.
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