Goldman Sachs Asset Management Raises $4.0 Billion for West Street Infrastructure Partners IV

Fourth vintage of the infrastructure investing program closes at its target with commitments from a diverse group of predominantly institutional investors
Global mandate to invest in value-add opportunities across energy transition, digital infrastructure, transport & logistics, and social infrastructure
Strong focus on sustainability and driving value creation, leveraging the resources and network of Goldman Sachs

NEW YORK, October 23rd, 2023 -- Goldman Sachs Asset Management today announced the final close of West Street Infrastructure Partners IV and related vehicles (“WSIP IV” or “the Fund”).

The Fund closed at $4.0 billion, consistent with its target, and is the latest in a series of flagship funds dedicated to investing in value-add, mid-market focused infrastructure.

The capital was raised from a diverse group of institutional and high net worth investors, alongside significant commitments from Goldman Sachs and its employees.

Philippe Camu, Chairman of Infrastructure at Goldman Sachs Asset Management, said: “The WSIP IV fundraise reflects the strength, track record and breadth of our global infrastructure platform. We are grateful of the partnership from both our existing and new investors, and look forward to what is ahead for our franchise. We are excited about the performance of our portfolio to date, and remain committed to delivering consistent returns for our investors.”

WSIP IV has already committed $2.3 billion to eight companies, diversified by geography and sectors, including: Synthica, a US developer and operator of organic renewable gas plants; Frøy ASA, a provider of transportation and support infrastructure to the Norwegian aquaculture sector; Verdalia, a developer and operator of European biomethane plants; GridStor, a developer and operator of utility-grade battery storage projects in the US; ImOn Communications, a fiber to the home (“FTTH”) broadband provider based in Iowa; and Adapteo, a provider of reusable modular space rental solutions in Northern Europe.¹Led by Philippe Camu, Scott Lebovitz and Tavis Cannell, the Infrastructure business at Goldman Sachs Asset Management has navigated multiple market cycles over 17 years in sourcing differentiated opportunities and generating attractive returns for clients. The Fund seeks to invest primarily in operating businesses with defensive, long-term cash flows, strong market positions, and in assets and services that are critical to society. Across the portfolio, the team leverages operating advisors and experts in the Goldman Sachs Value Accelerator who support investment companies in scaling revenue, operational excellence, digital transformation, talent strategy, and ESG.

Scott Lebovitz, Co-Head of Infrastructure at Goldman Sachs Asset Management, added: “The infrastructure asset class is positioned to benefit from some of the most exciting secular tailwinds associated with decarbonization, digitization, de-globalization and demographics, each of which requires very significant mobilization of private capital. In the current economic environment, a disciplined focus on risk, and managers’ value creation capabilities will act as key performance differentiators, where our platform is very well positioned. Many investors remain under-allocated to infrastructure, and we are privileged to have been entrusted by both existing investors and new clients as stewards of their capital.”

This close follows the recent close of Goldman Sachs’ inaugural infrastructure secondaries fund, Vintage Infrastructure Partners I, which closed in September 2023 on $1 billion of equity commitments.

About Goldman Sachs Asset Management

Goldman Sachs Asset Management delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs oversees more than $2.7 trillion in assets under supervision as of June 30, 2023. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. In public markets, Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity and multi-asset solutions. It is one of the largest managers of private capital globally and invests in the full spectrum of alternatives, including private equity, infrastructure, growth equity, private credit, real estate and sustainability.

Established in 2006, Infrastructure at Goldman Sachs Asset Management has consistently navigated the evolving infrastructure asset class, having invested approximately $16 billion in infrastructure assets across market cycles since its inception. We partner with experienced operators and management teams across multiple sectors, including energy transition, digital infrastructure, transportation & logistics and social infrastructure. Follow us on LinkedIn or find us at gsam.com/infrastructure.

¹Represents all investments in the portfolio where WSIP IV has majority control.

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