GOLDMAN Sachs Group’s alternative investment arm is launching a global infrastructure fund for wealthy individuals, as it ramps up efforts to open the growing private capital industry beyond institutional investors.
The fund, called G-INFRA, will invest in mid-sized infrastructure deals, secondaries – or buying stakes in infra assets from investors who sell out early – and liquid assets, according to a statement seen by Bloomberg News.
“The opportunity set in infrastructure is expansive, driven by the megatrends of digitisation, decarbonisation, deglobalization and demographics,” said Tavis Cannell, global head of infrastructure at Goldman Sachs Alternatives. “This evergreen product will provide wealth clients with a way to invest alongside our flagship institutional strategies across our infrastructure platform.”
Goldman Sachs Alternatives’ infrastructure arm has invested about US$16 billion in the sector since its inception in 2006, with deals in digital infrastructure, the energy transition, transportation, logistics and the circular economy. It agreed in November to buy Maltese telecom firm Melita from EQT AB. Goldman’s alternatives platform has also invested about US$4 billion in infrastructure secondaries over the last 16 years.
A number of private capital heavyweights from Apollo Global Management to Blackstone are looking to draw wealthy individuals into the fast-growing market for alternative investments. Goldman Sachs’ alternatives business already has strategies targeting rich retail investors in private credit, real estate and private equity. BLOOMBERG
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