Goldman Sachs leads investment into sustainable cotton fiber company Recover

Goldman Sachs Group Inc. led a $100 million investment for a minority stake in 70-year-old recycled cotton fiber company Recover Textile Systems SL, which is based in Valencia, Spain. Recover said Goldman Sachs Asset Management, the private investing unit of Goldman, invested alongside its majority shareholder Story3 Capital Partners. Letitia Webster, managing director and chief sustainability officer of Goldman Sachs Asset Management, will join the board of Recover as part of the deal. Peter Comisar, managing partner of Story3 Capital Partners and a former Goldman Sachs partner, said Recover “is uniquely positioned to be the global leader in sustainable cotton fiber.”

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