I Squared Capital has announced that it has closed its ISQ Global Infrastructure Fund II at the US$7 billion legal cap, exceeding an initial target of US$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 MW of power generation in nine countries across Latin America.
It will continue to invest 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.
Gibson, Dunn & Crutcher LLP acted as fund counsel and Evercore acted as placement agent.