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Goldman raises US$1.5b in infrastructure fund first close

Wednesday, March 30, 2016 - 07:46

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Goldman Sachs Group Inc closed the first stage of fundraising for its newest infrastructure fund with about US$1.5 billion, according to people familiar with the matter.

[NEW YORK] Goldman Sachs Group Inc closed the first stage of fundraising for its newest infrastructure fund with about US$1.5 billion, according to people familiar with the matter.

The fund, which completed its first close late last year and is targeting US$3 billion, has since reached US$1.8 billion in capital raising, the people added, asking not to be named because the matter is private.

A spokeswoman for Goldman declined to comment.

Goldman's last infrastructure fund raised US$3.1 billion in 2010. Goldman has raised more than US$10 billion in investments in infrastructure since 2006, according to its website.

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Investors are increasingly looking to infrastructure, which includes assets such as airports, bridges and toll roads, as an alternative to low-yielding fixed income products with more stable returns than traditional private equity.

Morgan Stanley said in March it had raised US$3.6 billion for its second infrastructure fund.

Other private equity firms are looking to raise large infrastructure funds.

ArcLight Capital Partners last year closed a US$5.6 billion fund focused on energy infrastructure investments and KKR & Co LP also closed a US$3.1 billion fund.

Global Infrastructure Partners is seeking to raise as much as US$15 billion for its third fund, according to reports last year.

REUTERS

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