May 29 (Reuters) - Goldman Sachs Asset Management's

alternative investments platform said on Wednesday its latest

fund had raised more than $20 billion for senior direct lending.

The fund, West Street Loan Partners V, is targeting to back

private equity-backed global businesses and has already invested

or committed $4 billion across 37 portfolio companies to date.

Direct lending is a key part of private credit, which has

boomed in recent years, as non-bank entities face fewer

regulatory hurdles than traditional lenders.

Reuters reported in March that Goldman Sachs ( GS ) aims to expand

its private credit portfolio to $300 billion in five years from

the current $130 billion.

Loan Partners V, the latest in a series of flagship

large-cap senior direct lending vehicles for Goldman Sachs

Alternatives, closed on $13.1 billion of equity capital,

long-term asset financing along with Goldman Sachs ( GS ) balance sheet

commitment.

Additionally, the firm also secured $550 million in

co-investment vehicles and $7 billion in large-cap senior direct

lending managed accounts.

The fund, managed by the private credit business within

Goldman Sachs Alternatives, raised capital from existing and new

investors along with commitments from Goldman Sachs ( GS ) and its

employees.

"The market for senior direct lending continues to benefit

from the growing demand from financial sponsors," said James

Reynolds, global head of direct lending for Goldman Sachs

Alternatives.