BANKING

Goldman, Sachs & Co. to Stay Private: The world’s largest investment banking partnership, meeting over the weekend, decided against taking the firm public, ending six months of debate. Its partners were convinced that their nearly $5 billion of equity was sufficient to support trading and investment banking worldwide, a source familiar with the situation said. Goldman, Sachs probably will not consider a public sale for another two or three years, the source said. The New York-based firm’s 174 partners decided that remaining private is a better way to motivate them to collaborate, serve clients and make more money. Goldman considered going public as the stock market hit record highs and the firm’s appetite for capital increased. The 127-year-old firm made $1.37 billion before taxes in fiscal 1995, its third-best year.