GSAM has raised nearly $10bn of infrastructure capital since 2016, according to Preqin data.

(Update: This story has been amended in paragraph 1 to clarify Goldman Sachs Asset Management's name.)

January 22, 2025 (Preqin News) – Goldman Sachs Asset Management (GSAM) has launched an open-ended infrastructure fund targeting private wealth investors, as it continues to intensify its focus on the alternatives market.

The evergreen fund will target individual investors with liquidity solutions and access to ‘mature, cash-flowing infrastructure assets’, Henry Willans, Head of Infrastructure for Vintage Strategies at GSAM said in an announcement.

It will invest in core-plus and value-added mid-market infrastructure, secondaries, and liquid assets.

‘The current opportunity set in infrastructure is both exciting and expansive, driven by key megatrends, including digitization and decarbonization,’ said Tavis Cannell, Global Head of Infrastructure at GSAM.

The rising demand for power and global shifts away from traditional energy sources is reshaping the infrastructure investment landscape. Amazon bought a nuclear-powered data center in Pennsylvania from Talen Energy for $650mn in March last year. Google also paid €27mn ($28mn) for 1,400 hectares of forest land in Finland for future data center development in November last year.

Goldman Sachs’ research showed that artificial intelligence is set to drive a 160% increase in data center power demand by 2030 – rising to more than 3% of global energy consumption.

Providing and maintaining the physical infrastructure for data centers, and keeping up with their ever-growing power demand, is a priority for private capital investors looking to keep up with the megatrends of digitization and decarbonization.

Goldman Sachs’ alternative arm has raised $9.6bn in infrastructure capital since 2016 – more than any other Wall Street bank, according to Preqin data.

‘The development of the private infrastructure market is creating significant opportunities for secondaries investors to provide liquidity solutions and gain access to mature, cash-flowing infrastructure assets,’ Willans said.

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