Goldman Sachs Group has closed a $9.7 billion private equity fund, according to a Reuters report.

Through the fund, “West Street Capital Partners VIII,” the investment bank plans to invest an average of $300 million to take controlling stakes in companies in healthcare and other sectors.

Goldman Sachs stated that it intends to target companies with an enterprise value of about $750 million to $2 billion. The fund has already invested in Paraxel, a Newton, Mass.-based clinical research organization and a European pharmaceutical company, among others.