Illinois Teachers backs Goldman Sachs infrastructure fund

Related images

  • Rail infrastructure

Teachers’ Retirement System of the State of Illinois is investing $150m (€136m) in infrastructure with Goldman Sachs Asset Management.

The US pension fund told IP Real Estate that the commitment to the West Street Infrastructure Partners Fund III marked the first time it had invested in the asset class with Goldman Sachs.

Illinois Teachers does not have a target allocation to infrastructure but rather invests opportunistically when it identifies compelling opportunities.

The latest investment will placed in its real-return portfolio, which is worth $4.2bn and makes up 9.2% of total assets, with a target allocation of 11%.

Goldman Sachs, which declined to comment, has invested in infrastructure since 2006, raising more than $10bn, including the $3.1bn secured for GS Infrastructure Partners II in 2010.

Separate media reports suggest Goldman Sachs is seeking to raise $3bn for a third global infrastructure fund.

Goldman Sachs, which has a global investment mandate for infrastructure across OECD countries, targets transportation and utilities.

The investment firm likes to invest in assets with strong competitive positions and high barriers to entry, favouring revenues that are contracted and/or linked to underlying economic growth and /inflation.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Now