I Squared closes debut global infra fund at $3b

I Squared said that the fund, called the ISQ Global Infrastructure Fund, was oversubscribed, with strong interest from a number of LPs across North America, Europe, Asia and Australia. The firm's target for the vehicle when it launched was $2 billion.

Sadek Wahba, I Squared's founder and managing partner, called the closing "a major milestone for I Squared Capital and a strong vote of confidence from our investors." The fund will invest in infrastructure projects in both developed countries and emerging markets.

I Squared was founded in 2012 by Wahba and nine other colleagues from Morgan Stanley, including Asia infrastructure head Gautam Bhandari. The firm has offices in the US, the UK, India, Hong Kong and Singapore, and has made eight investments from its debut fund across the US and Asia. These include the purchase of an Indian toll road from IJM Corp. in 2014 for $85 million.

The firm's other Asian assets include wastewater treatment plants in China. It has also entered a joint venture with the International Finance Corporation for other road and logistics projects in India.

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• Topics
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