 In late 2019, Goldman's Chief Executive, David M. Solomon, announced that the firm would combine GS Capital Partners into one division with Goldman's other direct-investing units, such as the Special Situations Group and Growth Equity unit, called the Merchant Banking Division (MBD), to create a private equity powerhouse with $140 billion under management.Goldman Sachs has historically invested capital in a variety of businesses alongside its investment banking clients.In the early and mid-1980s, Goldman was a slow entrant into the financing of leveraged buyouts and junk bonds and preferred to focus on its traditional mergers and acquisitions advisory business.