Goldman Sachs Group, the world's largest investment bank, said it raised more than $6.5 billion in committed capital for its first GS Infrastructure Partners fund.
GS Infrastructure Partners will seek investments in toll roads, airports and ports as well as regulated gas, water and electrical utilities.
The fund will focus on larger investment opportunities in developed markets with established legal, political and regulatory frameworks. The primary concentration is expected to be in Europe and North America. The fund has already committed to investments including Associated British Ports and Kinder Morgan.
"With the success of this fundraising, we have the capital to create and pursue large-scale investment opportunities while achieving portfolio diversification," Steven Feldman and William Young, co-heads of the infrastructure group of Goldman's merchant banking division, said in a statement.
Goldman Sachs committed about $750 million of the fund's total capital. Other institutional investors include pension funds, insurance companies and banks.
The fund is managed by individuals in its merchant banking division in New York and London.