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

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

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24 OCT, 2023

By RankiaPro Europe

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In a significant development for the world of infrastructure investing, Goldman Sachs Asset Management has successfully closed its fourth vintage infrastructure program, the West Street Infrastructure Partners IV (WSIP IV), raising a total of $4.0 billion. This achievement reflects the continued confidence from institutional and high net worth investors, as well as substantial commitments from Goldman Sachs and its employees. The fund seeks to invest in value-add opportunities across various sectors with a strong emphasis on sustainability and leveraging the resources and network of Goldman Sachs.

WSIP IV Hits Its Target with Diverse Investor Commitments

The WSIP IV fundraise has been an impressive feat, closing at its target of $4.0 billion. The fund managed to garner commitments from a diverse group of predominantly institutional investors, including both existing and new partners. This success also saw significant backing from Goldman Sachs and its employees, underlining the strength and trust in the platform.

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"The WSIP IV fundraise reflects the strength, track record, and breadth of our global infrastructure platform. We are excited about the performance of our portfolio to date and remain committed to delivering consistent returns for our investors."

Philippe Camu, Chairman of Infrastructure at Goldman Sachs Asset Management

WSIP IV's Strategic Investments in Key Sectors

WSIP IV has already allocated a substantial portion of its capital, committing $2.3 billion to eight companies. These investments are diversified across various geographical locations and sectors, showcasing the fund's strategy to invest in value-add opportunities. Some of the key investments include:

  • 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.
  • Adapteo, a provider of reusable modular space rental solutions in Northern Europe.

Goldman Sachs Asset Management's Infrastructure business, led by Philippe Camu, Scott Lebovitz, and Tavis Cannell, has demonstrated its ability to navigate multiple market cycles over the past 17 years. The team has consistently sourced differentiated opportunities and generated attractive returns for clients. The fund primarily seeks to invest in operating businesses with long-term cash flows, strong market positions, and assets and services critical to society. Additionally, the team leverages the expertise of the Goldman Sachs Value Accelerator to support portfolio companies in areas like revenue scaling, operational excellence, digital transformation, talent strategy, and ESG.

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“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.”

Scott Lebovitz, Co-Head of Infrastructure at Goldman Sachs Asset Management

This successful close of WSIP IV follows the recent closing of Goldman Sachs' inaugural infrastructure secondaries fund, Vintage

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