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Alternative Market Briefing

IPI Partners raises $3.8 billion with a second infrastructure fund

Thursday, April 15, 2021

Laxman Pai, Opalesque Asia:

Global investment platform IPI Partners has wrapped up its second flagship private equity fund after securing $3.8 billion from investors, with plans to target data centers and other connectivity-related investments, the firm said.

A press release from the joint venture of ICONIQ Capital and Iron Point Partners pointed out that the fund acquires, develops, leases, and operates data centers.

With the closing of IPI II, IPI has raised more than $5.25 billion in total equity capital commitments since its inception, it said. IPI's second fund attracted demand well over its target, reflecting strong support from a global institutional investor base.

Investors in the fund include Connecticut Retirement Plans & Trust Funds, Hartford; Louisiana Teachers' Retirement System, Baton Rouge; Rhode Island Employees' Retirement System, Providence; and New Mexico State Investment Council, Santa Fe; and University of Alabama System, Tuscaloosa, Ala.

"Fundraising for IPI II has been a resounding success, and we are extremely grateful that our recent achievements and established market presence have earned the trust and confidence of a wide range of high quality, sophisticated investors," said Matt A'Hearn, Partner at IPI. "The fund's close comes at a truly ideal time, aligning with the large and growing opportunity we see at the core of our investment strategy."

Jeff Felder, Managing Director and Head of Real Estate at ICONIQ Capital said: ......................

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