Form D · Other Investment Fund

Term Fund 2025

New York, NY · CIK 0001840484

Offering snapshot reported Feb 7, 2025 · SEC filing

Reported sold: $146M
Investors reported: 37
Minimum accepted: $5M
First sale: Jan 4, 2021

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Feb 7, 2025	Amendment	$145,533,804	$0vs Feb 20, 2024	37	SEC filing
Feb 20, 2024	Amendment	$145,533,804	$0vs Jan 28, 2021	37	SEC filing
Jan 28, 2021	Initial	$145,533,804	No comparison	37	SEC filing

Offering details

Securities: Pooled investment fund, Other
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-387715

Total aggregate sales is $145,533,803.70.

Commingled series LLC interests

Source: Form D, filed Feb 7, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

TERM FUND 2025

Investment adviser: GOLDMAN SACHS ASSET MANAGEMENT, L.P.

Gross asset value: $253M
Beneficial owners: 40
ADV minimum commitment: $5M

Reported in Form ADV on Aug 21, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor PRICEWATERHOUSECOOPERS LLP BOSTON, Massachusetts, United States Other funds reporting this name →

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No Other funds reporting this name →

Marketer GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: Yes Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

STATE STREET BANK AND TRUST COMPANY
LEI 571474TGEMMWANRLN572

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 801-16048

Fund asset history · 2 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2024	$1,692,338,304	41	Mar 31, 2025
2025	$253,003,613	40	Mar 31, 2026

Filing source

Form ADV 2125383 · Aug 21, 2026 · Schedule D 7.B.(1), fund 805-2583841413

Reported by GOLDMAN SACHS ASSET MANAGEMENT, L.P. (CRD 107738).

Other-Than Anual Amendment For Registered Adviser.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Matched by reported Form D file number

TERM FUND 2025

Investment adviser: GSAM STABLE VALUE, LLC

Gross asset value: $1.72B
Beneficial owners: 40
ADV minimum commitment: $5M

Reported in Form ADV on Mar 28, 2024. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Auditor PRICEWATERHOUSE COOPERS BOSTON, Massachusetts, United States Other funds reporting this name →

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No Other funds reporting this name →

Marketer GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: Yes Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

PRICEWATERHOUSE COOPERS
PCAOB 238

STATE STREET BANK AND TRUST COMPANY
LEI 571474TGEMMWANRLN572

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 801-16048

Fund asset history · 3 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2021	$1,605,790,692	39	Mar 31, 2022
2022	$2,003,078,147	39	Mar 31, 2023
2023	$1,721,277,660	40	Mar 28, 2024

Filing source

Form ADV 1845204 · Mar 28, 2024 · Schedule D 7.B.(1), fund 805-2583841413

Reported by GSAM STABLE VALUE, LLC (CRD 105997).

Annual Updating Amendment for Registered Adviser · fiscal year 2023.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Lauren Boone	Executive
Kenneth Cawley	Executive
Joseph Cipolla	Executive
Joseph Cortese	Executive
Lindsey Edwards	Executive
Theodore Enders	Executive
N/A Goldman Sachs Trust Company, N.A.	Promoter
Erik Karpinski	Executive
Adam Lane	Executive
Chris Lyon	Executive
Stacey Mullaney	Executive
Huw Roberts	Executive
Marc Romanoff	Executive
Katelyn Seager	Executive
Michael Twohig	Executive
Jim Waters	Executive
James Waters	Executive
Michael Woda	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

200 West Street
New York, NY, 10282-2198
Phone: 212-902-1000