Goldman Sachs said halving infra fund target
Goldman Sachs has reportedly cut the original $7.5 billion target size for its Goldman Sachs Infrastructure Partners II fund by more than half.
The move apparently follows two years of fundraising, which has taken the fund close to the limit on its private placement rules, with a dearth of deals worldwide as infrastructure investment levels in 2009 dropped to levels last seen in 2005. The preceding Goldman infrastructure fund closed in 2006 at $6.5 billion.
Goldman Sachs Infrastructure Partners II was cited as one of the world's top three largest infrastructure funds when it first came to market in 2008, alongside the Kohlberg Kravis Roberts Infrastructure Fund and Macquarie European Infrastructure Fund III, part of an estimated $94 billion of new infrastructure vehicles and 63 funds raising that year, according to placement agent Probitas. The fund reportedly has a mandate to invest primarily in US and European infrastructure assets, but by 1Q09 had only secured some $500 million.
More on Infrastructure
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.