Goldman Sachs has bought a $1.4bn (€1.1bn) private equity portfolio to add to its private investment area after a record year of fundraising for the bank.

Goldman has recently raised a $6.5bn infrastructure fund and is in the process of raising a $10bn private equity fund. The bank bought the portfolio, which belongs to Mellon Ventures, from Mellon Financial on December 29, although Mellon only revealed the sale in a federal filing today. Mellon did not reveal the terms of the acquisition, but said it would take a $70m loss on the sale, which is largely complete.