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Ex-Morgan Stanley infra execs at I Squared Capital target $2bn fundraise

18 Jul 2013

rail_infra_170sqInfrastructure private equity specialist I Squared Capital, which was created by former executives at Morgan Stanley’s infra arm, is reportedly targeting $2bn for its debut global fund.

The new ISQ Global Infrastructure Fund will invest in energy, utilities and transportation according to Bloomberg, which cited a person with knowledge of the matter.

It said nine members of the firm’s 27-strong team came from Morgan Stanley’s infrastructure business, including the investment and fundraising group from New York, London and Asia.

Partners include Sadek Wahba, Gautam Bhandari and Adil Rahmathulla, who were all previously with Morgan Stanley.

Earlier this month Brookfield Asset Management, a Canadian investor which manages over $175bn, raised more than $6bn across four arms of its latest infrastructure fund.

The firm’s Brookfield Infrastructure Fund II has been split into separate A, B, C and D vehicles, which together have raised a combined equity of $6.23bn, according to filings with the US Securities & Exchange Commission.

Andrew Willis, senior vice president at the firm, was unable to comment on the fundraise due to regulatory reasons, but previously told AltAssets that Brookfield was targeting $5bn across six separate investment funds.

CVC Capital Partners recently chose to abandon plans to raise a €2bn infrastructure fund amid lack of interest among LPs.

The firm had secured commitments from three investors, which will now lapse, said Bloomberg, citing two people with knowledge of the talks.

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