{
  "docId": "019dd923-5e88-73ef-bd5a-28c72cc9d740",
  "docSlug": "1b9c53be021f8188",
  "documentTitle": "asset and wealth management mn",
  "authorId": "GoldmanSachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "portrait",
  "aspectRatio": 0.773,
  "pageNumber": 116,
  "pageCount": 183,
  "prevPage": 115,
  "nextPage": 117,
  "slideType": "appendix_disclosure",
  "function": "other",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Page 116 of a Form ADV document.",
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5a-28c72cc9d740/116",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740#slide-116",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.74,
        "x": 0.13,
        "y": 0.48
      },
      "kind": "disclaimer",
      "text": "From time to time, GSAM provides opportunities to Advisory Accounts to make investments in companies in which certain Advisory Accounts have already invested. Such follow-on investments can create conflicts of interest, such as the determination of the terms of the new investment and the allocation of such opportunities among Advisory Accounts.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "32f5b622-f111-42cc-8bc9-4cfcf169a01b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.74,
        "x": 0.13,
        "y": 0.14
      },
      "kind": "disclaimer",
      "text": "These potential issues are examples of conflicts that Goldman Sachs (including GSAM) will face in situations in which Advisory Accounts, and Goldman Sachs (including GSAM) or other Accounts, invest in or extend credit to different parts of the capital structure of a single issuer.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ea9dcbe-2f57-47b2-ad7f-1dccdc637c12",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.74,
        "x": 0.13,
        "y": 0.28
      },
      "kind": "disclaimer",
      "text": "As a result of the various conflicts and related issues described above and the fact that conflicts will not necessarily be resolved in favor of the interests of particular Advisory Accounts, Advisory Accounts could sustain losses during periods in which Goldman Sachs (including GSAM) and other Accounts (including Advisory Accounts) achieve profits generally or with respect to particular holdings in the same issuer, or could achieve lower profits or higher losses than would have been the case had the conflicts described above not existed.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "58b79819-9a70-4dcc-a7a4-ff495ab9d127",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.74,
        "x": 0.13,
        "y": 0.8
      },
      "kind": "disclaimer",
      "text": "In certain cases, GSAM could seek to restructure one or more investments made by a particular Advisory Account that is a pooled investment vehicle by establishing a continuation vehicle to purchase such investments, potentially alongside other affiliates of GSAM.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a8edb801-3aa7-475d-8396-6466a4c7c3c1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.45,
        "x": 0.13,
        "y": 0.77
      },
      "kind": "title",
      "text": "Timing and Manner of Realization of Investments; Continuation Vehicles",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "353ef346-299d-4832-980f-fa8e15258888",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.13,
        "y": 0.09
      },
      "kind": "title",
      "text": "Goldman Sachs Asset Management",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4a479a26-ee1c-45ee-a560-5113a76e5609",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.35,
        "x": 0.13,
        "y": 0.45
      },
      "kind": "title",
      "text": "Potential Conflicts Relating to Follow-On Investments",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7f5bc0ed-f60e-43d7-8b36-1a5551d20686",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 150,
      "from": 101,
      "beatId": "2ffbac36-9b13-45f3-ad44-b7c15a73d480",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document concludes with information about the firm's code of ethics, participation or interest in client transactions, and other regulatory disclosures.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}