Goldman Sachs' New IBD Group

GS has just created a new IBD coverage group called "Cross Markets Group" in NY/London/Paris/Frankfurt which will focus on companies <2bn in value. From the description and the fact that the Head for Sponsors will lead the group, it seems that the focus will also be on PE portfolio companies and mid-market sponsors. Any opinions on this initiative? Will the experience be comparable to a traditional GS coverage group? In Europe at least, they would probably directly compete with RS which is often praised for the incredible deal exposure for juniors despite not being active on many large-cap deals.