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Alternative Market Briefing

Buyout group I Squared Capital racks up $15bn for third infrastructure fund

Friday, April 08, 2022

Laxman Pai, Opalesque Asia:

I Squared Capital, the infrastructure investor is eyeing the liquefied natural gas sector, has closed its ISQ Global Infrastructure Fund III at the $15 billion legal cap, exceeding an initial target of $12 billion.

Fund III is more than double the capital raised by its predecessor fund, which closed at $7 billion in September 2018.

Including commitments from I Squared Capital and a dedicated co-investment vehicle, the fund has $15.5 billion in investable capital, said the company. It has received capital commitments from over 200 institutional investors, including public and private pensions, sovereign funds, insurance companies, asset managers, and family offices in 27 countries.

Investors in the fund include the New York State Common Retirement Fund, Albany; Border to Coast Pensions Partnership, Leeds, England; Connecticut Retirement Plans & Trust Funds, HartfordArkansas Teacher Retirement System, Little Rock; North Dakota State Investment Board, Bismarck, which oversees a Legacy Trust Fund, pension assets pool and insurance trust; Baltimore City Fire & Police Employees' Retirement System; Fairfax County Educational Employees' Supplementary Retirement System, Springfield, Va.; and Merced County (Calif.) Employees' Retirement Association.

Gautam Bhandari, Managing Partner of I Squared Capital: "ISQ Global Infrastructure Fund III's objective of investing private capital to build infrastructure assets that address the cr......................

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