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.
More private investment in public infrastructure is required to close the estimated $57 trillion infrastructure financing gap.
Goldman Sachs Group Inc (GS.N) closed the first stage of fundraising for its newest infrastructure fund with about $1.5 billion, according to people familiar with the matter.The fund, which completed its first close late last year and is targeting $3 billion, has since reached $1.8 billion in capital raising, according to the source.
Goldman's last infrastructure fund raised $3.1 billion in 2010. Goldman has raised more than $10 billion in investments in infrastructure since 2006, according to its website.
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