I Squared Holds $10bn First Close for Fund IV
I Squared Capital announced a $10 billion first close for its flagship Fund IV, marking one of the largest infrastructure fundraises this year. The firm also secured a $2 billion first close for its Growth Markets Infrastructure Fund II, expanding its pipeline in emerging economies. A final close for its second credit fund is slated for the coming months, indicating continued investor appetite for infrastructure debt. The combined commitments underscore strong capital flow into global infrastructure assets.
Manulife Buying Infra CVs, Secondaries to Address Low DPI
Manulife Investment Management announced a strategic push into infrastructure core values (CVs) and secondary market positions to counteract a persistently low distribution‑to‑paid‑in (DPI) ratio. The move follows a surge in retail capital flowing into infrastructure funds, which is reshaping exit...
Equis to Launch Management-Led Recapitalisation Process – Exclusive
Equis announced a management‑led recapitalisation process to raise fresh equity for its portfolio. The move comes after an attempted sale of its Asia‑Pacific renewable‑energy platform fell through last year. Management will spearhead the fundraise, targeting infrastructure‑focused investors. The recapitalisation is...
A Decade on From Its Renewables Heyday, the Data Centre Yieldco Has Arrived
Blackstone has filed for an IPO to spin off a data‑centre stableco, reviving the yield‑co structure that powered renewable‑energy investments a decade ago. The offering, targeting roughly $1.5 billion, aims to bundle a portfolio of hyperscale and edge‑facility assets under a...
US Seeks to Refund $885m of GIP and CPP Offshore Wind Leases Into LNG Investments
The U.S. government is offering Global Infrastructure Partners (GIP) and the Canada Pension Plan Investment Board (CPP) a refund of $885 million tied to offshore wind leases they secured in 2022. The refund is conditional on the two investors redirecting the...
Axians UK: Digital Transformation Has No Deadline
Axians UK executive Chris Gilmour warns that digital transformation is a mindset shift rather than a one‑off capital expense. Companies often rush to adopt the latest technology but neglect cultural change, leading to failed initiatives. Gilmour stresses that transformation is...
Basalt Hits $1.5bn First Close for Fifth Infra Fund – Exclusive
Basalt Infrastructure Partners announced a $1.5 bn first close on its fifth infrastructure fund, reaching the halfway mark of its $3 bn target. The milestone was achieved roughly eight months after the fund’s launch, underscoring strong investor appetite. The capital will be...
Brookfield Eyes Circa $20bn First Close for Fund VI – Exclusive
Brookfield Asset Management is launching its sixth flagship infrastructure fund, targeting roughly $30 billion CAD (~$22.2 billion USD) in total commitments. The firm aims for a first close of about $20 billion CAD (~$14.8 billion USD) in the third quarter of 2024. The capital...
Fengate Reaches $1bn First Close for Fund V – Exclusive
Toronto‑based Fengate announced that its fifth infrastructure vehicle, Fund V, secured a first close of CAD 1 billion (approximately $740 million) within six months of launch. The fund is now about two‑thirds funded toward its CAD 1.5 billion ($1.11 billion) target, reflecting strong investor appetite for mid‑market...
‘Investors Are Sleepwalking’ on Iran War Risks
On the Infrastructure Investor Podcast, I Squared founder Sadek Wahba cautioned investors about an over‑hyped AI infrastructure boom and highlighted that markets are underestimating the geopolitical fallout from the Iran‑Israel conflict. He argued that infrastructure assets remain resilient thanks to...
SIPA’s Quantitative Research Will Deepen Our Insights
Infrastructure Investor’s parent firm PEI has completed the acquisition of Scientific Infra & Private Assets (SIPA). The purchase brings SIPA’s quantitative research platform into PEI’s existing infrastructure and private‑equity coverage. With the new tools, investors will receive more granular data...
DOWNLOAD: Fundraising in Q1 Returns to Earth
Fundraising by unlisted, closed‑end infrastructure structures slipped to $26.4 bn in Q1, marking the second‑lowest total in the past six years. The dip signals heightened investor caution amid lingering macro‑uncertainty. However, a slate of large‑cap funds is slated to close over...
Ex-Argo MD Aaron Gold Joins CAI as President – Exclusive
Aaron Gold, former managing director at Argo, has been hired as president of infrastructure investment firm CAI. The newly created role is based in New York and tasks Gold with expanding CAI’s footprint on the East Coast. He will work...
The Pipeline: Gigaclear Lenders’ Haircut, Church Commissioners Expands Timberland Strategy and Blackstone’s Rowan Minority Stake
Lenders have taken control of UK fiber‑optic provider Gigaclear after imposing a substantial debt haircut, effectively reshaping its balance sheet. The Church Commissioners are expanding their timberland portfolio through a value‑add strategy, adding new forest assets to diversify their pension...
APG Infra Head Jan-Willem Ruisbroek to Step Down – Exclusive
Jan-Willem Ruisbroek, who has led APG's infrastructure investment unit for nearly two decades, will leave the Dutch pension fund giant on July 1 for a career break. APG, which oversees roughly €638 billion in assets, relies on its infrastructure arm to meet...
The Pipeline: Nuveen Nears $2.5bn Target, Foresight Names New Real Assets Head and InfraVia Doubles up on Power
Nuveen’s EPIC II fund is approaching a $2 billion second close, moving toward its $2.5 billion fundraising target. The fund focuses on core infrastructure assets across Europe and North America. Meanwhile, Foresight has appointed a new head of real assets to steer...
Ninety One Eyes Launch of Global EM Infrastructure Debt Strategy Targeting up to $1bn
Ninety One, the manager behind PIDG’s Emerging Africa and Asia Infrastructure Fund, plans to launch a global emerging‑markets infrastructure debt strategy targeting up to $1 billion. The fund will focus on senior secured loans for power, transport and social‑sector projects across...
The Iran War Is Turning the Energy Transition Into an Energy Security Story
The war involving Iran is reshaping the global energy transition by turning energy security into a central concern. Conflict‑driven supply disruptions have pushed oil and gas prices higher and heightened market volatility. Private infrastructure investors, who previously emphasized pure renewable...
Mid-Market Trends: Energy Transition
Mid‑market investors eye the energy transition, but the so‑called green premium only materialises for firms that master its core fundamentals. Companies that embed robust ESG frameworks, secure regulatory compliance, and adopt proven low‑carbon technologies can command higher valuations and cheaper...
CVC DIF on Europe’s Mid-Market Moment
CVC DIF’s Gijs Voskuyl highlights Europe’s mid‑market as a sweet spot for private‑equity investors, offering a blend of attractive entry points and strong value‑creation potential. The firm argues that investors with a genuine on‑the‑ground presence and repeatable execution capabilities can unlock...
Morgan Stanley Infrastructure Partners on Ample Opportunities and Diverse Exits
Morgan Stanley Infrastructure Partners (MSIP) says limited‑partner interest in mid‑market infrastructure is surging as the sector offers a broader array of deals and multiple exit pathways. Alberto Donzelli highlighted that the expanding pipeline spans renewables, transport and digital assets, giving...
Equitix on Fuelling Europe’s Future
Equitix’s Achal Bhuwania argues that Europe’s clean‑energy transition and its next wave of economic growth will depend on mid‑market infrastructure projects. He stresses that these assets, sized between large‑scale utilities and small‑scale renewables, can deliver the flexibility and speed required...
Success in Mid-Market Infra Requires Disciplined Growth – Actis
Actis’s head of infrastructure for Central and Eastern Europe argues that the mid‑market infrastructure segment should be defined by the constraints investors face rather than by ticket size. Success, he says, depends on disciplined, incremental growth rather than relying on...
Ridgewood Infrastructure on Acquiring with Purpose, Growing with Precision and Exiting with Intent
Ridgewood Infrastructure’s Ross Posner highlights the lower mid‑market as a sweet spot for infrastructure investors. He argues that deals in this segment deliver compelling returns across acquisition, growth, and exit phases. Ridgewood’s strategy centers on purposeful acquisitions, precise operational scaling,...
Why Preferred Equity Is a Critical Tool in the New Energy Economy
Preferred equity is emerging as a pivotal financing tool for new‑energy projects as market volatility and demand surge. It supplies developers with immediate liquidity, enabling rapid project execution. At the same time, investors benefit from structured, fixed‑rate returns coupled with...
UK AR7: Offshore Wind’s Pricing Reset Is Music to Insurers’ Ears
The UK’s AR7 offshore wind auction concluded with significantly lower strike prices, marking a pricing reset that benefits both developers and insurers. Contract values fell to around £70 per megawatt‑hour (approximately $86), reflecting tighter cost structures and improved turbine efficiency....
The Pipeline: Global Summit Ends, Infra Healthier than PE, Brookfield’s Boralex Take-Private
The Global Infrastructure Summit concluded, underscoring strong investor appetite for core infrastructure assets. Analysts noted that the sector’s financing metrics and pipeline quality are outperforming private‑equity‑backed projects. Brookfield Asset Management announced a $6.5 billion take‑private of Canadian renewable power producer Boralex,...
ADIA, Aksia Divided on Data Centre Buildout Boom
At the Infrastructure Investor Global Summit, the Abu Dhabi Investment Authority announced a bullish stance on AI‑driven data centre expansion, planning sizable allocations to capture rising compute demand. In contrast, US advisory firm Aksia warned that oversupply risk and tighter...
Global Summit Day 3 – Here’s What We Learned
Day three of the Global Infrastructure Summit highlighted the accelerating "industrialisation of AI" as a catalyst for smarter, data‑driven assets. Speakers announced renewed investor appetite for nuclear projects, citing policy support and cost reductions. Panels debated whether firms are evolving...
US Asset Recycling: This Time for Real or Still a Pipe Dream?
Australian investors are reviving the concept of US asset recycling as a way to bridge America’s massive infrastructure funding shortfall. The approach involves selling or leasing existing public assets to private capital, then repurchasing them later, freeing up cash for...
KKR Approaches First Close of Around $5bn for Third APAC Infra Fund – Exclusive
KKR is nearing the first close of its third Asia‑Pacific infrastructure fund, targeting roughly $5 billion in commitments. The firm is on pace to exceed the $6.4 billion raised for its second APAC fund, which already set a regional fundraising record. The...
IFM Investors to Increase Exposure to Growth Sectors
IFM Investors announced plans to increase its exposure to high‑growth infrastructure sectors by adding value‑add assets to its portfolio. Vivien Cheung, the firm’s vice‑president of infrastructure, said the strategy will complement IFM’s existing core holdings and aim to capture upside...
Quinbrook to Build In-House Australian Construction Team
Quinbrook is moving into the execution phase of its Australian battery storage pipeline and will establish an in‑house construction team to build the projects. The decision responds to a tight labour market that has been hampering infrastructure delivery. By internalising...
Igneo: ‘I Don’t Want to Be on the Phone to Clients Explaining Why Our Valuations Dropped’
Niall Mills, global head of Igneo Infrastructure Partners, discussed on the Infrastructure Investor Podcast the firm’s recent exit from its inaugural Euro‑denominated fund. He explained why Igneo now performs quarterly valuations instead of annual updates, citing client expectations and market...
How Does Fund Size Affect Time on the Road?
Historically, larger investment funds reached final close faster than their smaller counterparts, a pattern that persisted for years. Recent analysis shows this dynamic has reversed, with smaller funds now achieving quicker closures. The shift reflects changing fundraising tactics and market...
Investor Intention: Sumitomo Mitsui Finance and Leasing Company to Grow Infrastructure Portfolio
Sumitomo Mitsui Finance and Leasing Company (SMFL) announced plans to expand its infrastructure portfolio, concentrating on transport‑related assets and movable transportation funds. The strategy signals a shift toward higher‑growth, capital‑intensive projects such as rail, road, and logistics platforms. SMFL aims...
Buoyed by Non-European LPs, InfraVia Closes Sixth European Fund on €8bn Hard-Cap
InfraVia announced the closing of its sixth European infrastructure fund, reaching an €8 billion hard‑cap. The fundraising was heavily supported by non‑European limited partners, underscoring growing global appetite for European assets. Founder and CEO Vincent Levita cited Europe’s regulatory stability and...
LACERA Sees Benefits as It Leans Into Private Infrastructure, Co-Investments
LACERA, the nearly $90 billion Los Angeles County Employees Retirement Association, has reported solid gains from its expanding private‑infrastructure programme. The pension fund deepened its exposure through direct equity stakes and co‑investment partnerships, targeting sectors such as transport, renewable energy and social‑impact...
The Pipeline: Data Centres to ‘Lower Electricity Prices’, ECP VI Reaches $3.7bn, EQT Wades Into UK Water
Infrastructure Investor’s weekly briefing highlights three major developments: data centre operators are positioning themselves to drive down electricity costs, the European Climate Platform’s sixth fund (ECP VI) has closed at $3.7 billion, and private‑equity firm EQT has entered the UK water market....
Investors Need to Decide How Much Coal Is Too Much Coal
Investors are confronting a pivotal question as capital floods the broader energy sector: how much coal exposure is acceptable. While renewable projects dominate headlines, coal still accounts for a sizable share of global power generation and remains embedded in many...
RGREEN Raises €900m for Fifth European Energy Transition Fund
RGREEN announced the close of a €900 million fifth European energy transition fund, targeting renewable infrastructure across the continent. The manager has already deployed roughly 70 % of the capital into projects ranging from wind farms to green hydrogen facilities. RGREEN expects...
‘Scale Is How You Win’: Macquarie’s Ed Northam on Green Investing
Macquarie Asset Management’s global head of green investments, Ed Northam, emphasized that scale is the decisive factor in winning the green‑investment race. He highlighted abundant opportunities in U.S. renewable power despite a slowdown in project delivery timelines. Northam noted that...
CPP Wants More ‘Established’ Data Centre Platforms After Latest $4bn Buy
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The Pipeline: Big Tech’s Data Centre Pledge, NZ Super Gets Real Assets Chief, GIP and EQT’s $33bn AES Deal
Big Tech announced a landmark pledge at the White House to power new data centres with renewable energy, signaling a shift toward greener cloud infrastructure. New Zealand's sovereign wealth fund, NZ Super, created a dedicated real‑assets chief role to sharpen...
Gilchrist: Igneo ‘a Clean Sheet of Paper in Terms of Opportunity’
Carolyn Gilchrist, appointed six months ago as Igneo’s global head of capital formation, has outlined a new vision for the firm’s investor relations. She proposes a unified IR function that will serve as a single point of contact for investors...
BNP Paribas AM Shuts Down €750m Sustainability Fund – Exclusive
BNP Paribas Asset Management is winding down its €750 million sustainability fund following the acquisition of AXA IM Alts. The purchase created overlapping equity strategies between the two managers, prompting a strategic consolidation. BNP Paribas cited redundancy elimination as the primary...
Opportunities Are Emerging for Port Investors Even Despite Signs of Deglobalisation
Port investors are re‑evaluating asset values as global trade patterns shift, despite growing signs of de‑globalisation. The sector’s relative valuation is being reassessed against alternative infrastructure classes, revealing new upside potential. Analysts note that bottlenecks, supply‑chain diversification, and emerging trade...
‘Infra Is Defensive but Valuation Smoothing Downplays Risk’
Tim Whittaker of the European Investment Partners Association (EIPA) argues that while infrastructure is often marketed as a defensive asset class, current valuation practices smooth out volatility and conceal true risk. He calls on regulators to require private market investors...
CapMan to Launch €750m Third Nordic Infra Fund – Exclusive
CapMan announced the launch of its third Nordic infrastructure fund, targeting €750 million in commitments. The new vehicle represents a roughly 90% increase over the firm’s previous €400 million fund. It will focus on renewable energy, transport, and digital infrastructure projects across...
The Pipeline: Europe Drags on OMERS, Quinbrook’s New Australia MD, Norway SWF’s Supersized Renewable Returns
Europe’s infrastructure market underperformed this quarter, dragging down OMERS’ overall portfolio returns. The Canadian pension fund reported weaker earnings as its European assets lagged behind more resilient regions. Quinbrook Infrastructure Partners announced the appointment of a new Managing Director for...