Type Private Products Infrastructure Founder Sadek Wahba | Industry Private equity AUM $3.4 Bn (USD) Founded 2012 | |
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Headquarters New York City, New York, U.S. Key people Sadek Wahba
(Managing Partner)
Adil Rahmathulla
Gautam Bhandari Subsidiaries Viridian Group, I Squared Capital Advisors (Us) Llc, I Squared Capital Investments Ltd., Restless Hydro, Llc | ||
I Squared Capital is a private equity firm focusing on global infrastructure investments. The company invests in energy, utilities and transportation projects in North America, Europe and select high growth economies, such as India and China.
Contents
History
Founded in 2012, the firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore. Several of its executives were previously senior executives at Morgan Stanley, including Sadek Wahba, Adil Rahmathulla and Gautam Bhandari.
Investments
The firm has made investments in the U.S. hydroelectric power industry, in China's waste water treatment industry, and in India, including a majority stake in the 109-kilometer Jaipur Mahua Tollways in the northwestern state of Rajasthan, and a stake in the rooftop solar power company Amplus Energy Solutions Private Limited.
I Squared's hydro-electric power investments have been made through its portfolio company Cube Hydro Partners LLC, which was formed in January 2014. Cube Hydro owns and operates 14 hydroelectric power facilities in the U.S. and purchased four more plants in 2016. Kristina M. Johnson, a former undersecretary for energy at the U.S. Department of Energy, is the CEO of Cube Hydro.
On 31 December 2015, I Squared purchased the 220-mile pipeline gathering system owned by WPX in the San Juan Basin in New Mexico. The purchase price was reported to be $285 million USD.
In March 2016, the company struck a deal to buy the Irish power company Viridian for about one billion Euros. Viridian provides about 20% of the power to Ireland.
In October 2016, I Squared Capital entered into an agreement with Duke Energy International's Latin American division to purchase all of the assets (excluding those in Brazil) for $1.2 billion USD. The investment will add hydroelectric and natural gas generation plants, transmission infrastructure, and natural gas processing facilities, totaling 2,300 megawatts of energy. The assets are located in Peru, Chile, Ecuador, Guatemala, El Salvador, and Argentina.
Notable Advisors
Boutros Boutros-Ghali, former Secretary-General of the United Nations and Egypt's Minister of Foreign Affairs, served as an advisor to the fund. In 2013, Jonson Cox, the chairman of the UK's Water Services Regulation Authority, was appointed as a senior policy advisor of I Squared.
Awards
In 2016, I Squared won six awards from Infrastructure Investor, including "Global Personality of the Year", "Global Fund Manager of the Year", "Global Fundraising of the Year", "North America Fundraising of the Year", "North America Fund Manager of the Year", and "Asia Pacific Transport Investor of the Year".