News in the spotlight: Goldman Sachs closes USD 3bn Infrastructure Fund for Energy Transition and Digital Growth
Goldman Sachs Alternatives has raised more than USD 3bn at the aggregated first close of West Street Infrastructure Partners V, achieving 75% of its USD 4bn target in less than six months.
Products and Services
Apave acquires Climate School from AXA Climate to expand training offerings
French risk management group Apave has acquired Climate School from AXA Climate, AXA’s climate-focused business unit. Founded in 2021 and headquartered in Paris, Climate School is the industry leader in raising employee awareness of sustainable transition challenges through corporate e-learning. The acquisition strengthens Apave Impact, Apave’s dedicated sustainability subsidiary launched earlier this year to support companies’ responsible transition across France, Europe and internationally. Climate School’s e-learning platform enhances proficiency in sustainability, climate change, and environmental issues, giving Apave a complete offering from employee awareness to implementation of concrete sustainability solutions. The deal aligns with Apave’s AMPLIFY 2030 strategic plan, which aims to establish the Group as a global leader in industrial and operational risk management. Risk prevention, particularly climate-related risks, and demand for sustainability consultancy including ESG and decarbonisation are core strategic pillars for Apave Impact.
Goldman Sachs closes USD 3bn Infrastructure Fund for Energy Transition and Digital Growth
Goldman Sachs Alternatives has raised more than USD 3bn at the aggregated first close of West Street Infrastructure Partners V, achieving 75% of its USD 4bn target in less than six months. The fund attracted commitments from sovereign wealth funds, pension plans, and global insurers across North America, Asia, Europe, and the Middle East, with approximately 80% of initial commitments coming from investors who backed prior vintages. WSIP V is Goldman Sachs Alternatives’ fifth flagship infrastructure fund, building on a 20-year track record that includes more than 40 investments across geographies and subsectors. The fund targets mid-market opportunities in four investment themes: energy transition, digital infrastructure, transport and logistics, and the circular economy. It focuses on defensive, long-cash-flow assets with strong market positions. The fund has already begun deploying capital, with its first investment being the May 13, 2026 acquisition of QScale, a Canadian data center platform based in Quebec.
Eurazeo Impact Fund buys T1A to back circular IT reuse
Eurazeo, through its Eurazeo Planetary Boundaries Fund (EPBF), has acquired a majority stake in T1A Group, a Danish IT Asset Disposition provider and leading European player in the circular IT economy. This is EPBF’s third investment since its 2024 launch and marks Eurazeo’s first entry into Denmark. T1A founder Peter Hemicke will remain as co-investor and continue leading the company. EPBF will support T1A’s growth strategy through organic expansion and a buy-and-build approach, aiming to create a leading European ITAD platform with expanded presence in Germany, the Benelux, the UK and France. The investment safeguards three planetary boundaries: climate change through avoided emissions from device refurbishment, freshwater change via water savings, and pollution through responsible e-waste management.
Big Nature Impact Fund reaches GBP 64.6mn first close
The Big Nature Impact Fund, the UK’s first blended nature-as-infrastructure fund led by Finance Earth, has reached its first close at GBP 64.6mn towards a final target of GBP 90-120mn. The fund combines public and private capital to support long-term nature restoration projects across England, with Esmée Fairbairn Foundation among the private investors. The Department for Environment, Food and Rural Affairs provided GBP 30mn in cornerstone “first loss” capital, reducing risk for private investors and demonstrating government commitment to scaling nature-based investment. The fund targets 12-year, Sustainability Impact-approved investments focusing on woodland creation, peatland restoration, and habitat creation that generate revenue through verified carbon credits and biodiversity units rather than timber harvesting or land banking. The fund partners with landowners and project developers to restore landscapes rather than purchasing land outright, aiming to sell functioning, revenue-generating ecosystems on exit.
Regulations, Law and Frameworks
New York Attorney General challenges wind deal
New York Attorney General Letitia James and Governor Kathy Hochul have filed a lawsuit challenging the Trump administration’s plan to pay TotalEnergies USD 795 million to abandon an offshore wind lease off New York’s coast and instead invest in fossil fuels. The agreement, announced in May 2026, would terminate the Brooklyn Port Authority Energy Campus project, which was designed to generate renewable energy for New York. The states argue the deal is unlawful because it violates federal procurement laws and constitutes an improper use of federal funds. The administration contends the payment is necessary to address what it calls “unreasonable” lease terms, but New York says the project was approved through proper regulatory processes and meets all federal requirements. The lawsuit seeks to block the payment and preserve the wind lease. The state has consistently opposed federal efforts that would delay or cancel renewable energy projects, arguing they undermine climate goals and harm state economic interests.
Net Zero Commitments
TD Bank signs 10-Year carbon removal deal with Climeworks
Climeworks Solutions has signed a 10-year agreement to supply high-quality carbon dioxide removal credits to Toronto-Dominion Bank, the sixth-largest bank in North America and Climeworks Solutions’ first Canadian financial services customer. Under the deal, Climeworks Solutions will deliver a managed portfolio of carbon removal projects across North America, handling project sourcing, due diligence, and ongoing portfolio management. The portfolio spans multiple carbon removal pathways including enhanced rock weathering, biochar, and bioenergy with carbon capture and storage, all designed to deliver durable removal with carbon stored for extended periods. Climeworks Solutions will also provide access to direct air capture credits from future North American facilities. The company recently opened its corporate headquarters in Calgary and is beginning cold-weather testing of its DAC technology ahead of building a commercial-scale plant, The arrangement offers flexibility as projects and technologies mature, helping mitigate risk while adapting to evolving carbon market standards and methodologies.