I Squared Capital has closed its second infrastructure fund at $7 billion, sweeping past its $5 billion target. ISQ Global Infrastructure Fund II has commitments from over 100 institutional investors. Evercore was the placement agent while Gibson, Dunn & Crutcher LLP acted as fund counsel.
LONDON–(BUSINESS WIRE)–I Squared Capital, a leading global infrastructure investment manager, has closed its ISQ Global Infrastructure Fund II at the $7 billion legal cap, exceeding an initial target of $5 billion. The fund received commitments from over 100 institutional investors with oversubscribed demand and a re-up rate reaching over 80 percent from the previous fund.
“The fund is already 24 percent invested with portfolio companies in the U.S. midstream sector; the leading trailer and trailer services provider in Europe and Canada; the second largest telecom fiber network in Hong Kong; and nearly 3,400 megawatts of power generation in nine countries across Latin America,” stated Sadek Wahba, Managing Partner of I Squared Capital. “We currently see opportunities globally with attractive risk-adjusted returns across different sectors including energy, telecom, transport, and utilities in the U.S. and Europe as well as in high-growth economies including India, China and Latin America.”
I Squared Capital has over $13 billion in assets under management from institutional investors including pension funds, insurance companies, sovereign funds, asset managers and family offices, as well as managing funds on behalf of the U.S. government’s Overseas Private Investment Corporation (OPIC). The firm has a diverse team of over 100 professionals based in Hong Kong, Houston, London, Miami, New Delhi, New York and Singapore.
Gibson, Dunn & Crutcher LLP acted as fund counsel and Evercore acted as placement agent.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe and Asia. The firm has offices in Hong Kong, Houston, London, Miami, New Delhi, New York and Singapore.