I Squared Capital Gets Approval for $200 Million Funding
In the latest sign of the growing sway of New York City-based I Squared Capital, the private equity firm has received approval for up to $200 million in financing from the Overseas Private Investment Corporation to be used alongside its $3 billion ISQ Global Infrastructure Fund (raised earlier this year–full story here).
I Squared will use the money to target middle-market infrastructure investments in South and Southeast Asia. This is big news in the world of infrastructure.
“Infrastructure provides a critical foundation for an economy. Our partnership with I Squared Capital will enable us to direct more capital to Asian infrastructure projects that support basic needs and promote economic development,” said Brooks Preston, OPIC’s Vice President for Investment Funds. “We share I Squared Capital’s commitment to the environment, workers’ and human rights in emerging markets and continue to make it a key component of our investment strategy.”
“I Squared Capital’s ability to source deals and manage relationships with governments and communities comes from its on-the-ground teams which have a deep understanding of the cultures, languages and traditions of Asia,” said Sadek Wahba, Managing Partner at I Squared Capital. “South and Southeast Asia infrastructure will require enormous investment in the coming decade to keep pace with economic development. OPIC’s co-investment financing will have a significant impact in this vital sector.”