By Justin Baer And Douglas MacMillan 

Goldman Sachs Group Inc. is offering its wealth-management clients an opportunity to invest in Uber Technologies Inc., the ride-sharing company that has become one of Silicon Valley's most highly valued startups, according to a person familiar with the matter.

Goldman itself is already one of Uber's institutional investors. The new convertible-debt offering is a private placement exclusively for Goldman's high-net-worth clients, and could raise hundreds of millions of dollars, the person said.

Clients of Goldman's wealth-management division typically must have a net worth of more than $10 million. The division's some 600 advisers oversee about $300 billion in client assets.

News of the private placement was reported earlier by Fortune.

In 2011, Goldman also allowed its wealthy clients the chance to invest in Facebook Inc. ahead of the social-networking company's anticipated initial public offering. For Facebook, Goldman clients were offered the opportunity to purchase equity, whereas the Uber offering is in convertible debt.

Uber, which is private, has separately raised more than $1 billion from institutional backers including Goldman, several venture-capital firms and a handful of mutual-fund managers. The Wall Street Journal reported earlier this month that the company is in talks to sell equity in a round of funding likely to value it at more than $30 billion.

Write to Justin Baer at justin.baer@wsj.com and Douglas MacMillan at douglas.macmillan@wsj.com

Access Investor Kit for Facebook, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US30303M1027

Access Investor Kit for The Goldman Sachs Group, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US38141G1040

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Meta Platforms Charts.
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Meta Platforms Charts.