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Goldman Sachs Nontraded BDC Names Bantwal Sole CEO as Miller Resigns

By Mari Nicholson

Goldman Sachs Nontraded BDC Names Bantwal Sole CEO as Miller Resigns
Vivek Bantwal

Goldman Sachs Private Credit Corp., or GS Credit, said co-chief executive officer David Miller will step down at year’s end, leaving Vivek Bantwal as the nontraded business development company’s sole chief executive.

Miller notified the company of his intention to resign as co-CEO and co-principal executive officer, effective Dec. 31. The company said the departure is not the result of any disagreement. Miller will continue in his current role during the transition period. He became chairman of Goldman Sachs Asset Management’s private credit direct lending team in the Americas effective Aug. 6 and will serve as an advisory director to Goldman Sachs once his resignation takes effect. He will remain on the fund’s private credit investment committee.

Bantwal joined as Miller’s co-CEO last year following Alex Chi’s departure amid the merger of Goldman Sachs Middle Market Lending Corp. II into GS Credit.

The company also named Justin Betzen co-president and co-chief operating officer effective Aug. 3, a role he will share with Tucker Greene, who has served as the fund’s president and COO since last year’s leadership reshuffle. Betzen, a managing director and senior underwriter in Goldman’s private credit business in the Americas, was appointed to the same co-president and co-COO roles at several related Goldman-managed vehicles, including Goldman Sachs BDC, Inc., Silver Capital Holdings LLC, Goldman Sachs Private Middle Market Credit II LLC, Phillip Street BDC LLC, and West Bay BDC LLC. He first joined Goldman Sachs in 2006, left for Newstone Capital Partners, and rejoined the firm in 2013. He was named managing director in 2019.

GS Credit has drawn lighter redemption pressure than some larger nontraded BDC peers since the 2025 merger. The fund fulfilled 100% of its second-quarter repurchase requests after redemption demand eased to 3.24% of shares outstanding. Larger peer Ares Strategic Income Fund hit its 5% quarterly cap in the same period.

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