Ex- Morgan Stanley plan $2 billion infrastructure fund
Bloomberg has reported that I Squared Capital LLC, the private-equity firm led by former executives of Morgan Stanley (MS)'s infrastructure arm, is seeking $2 billion for its debut global fund. The fund, called ISQ Global Infrastructure Fund LP, will invest in energy, utilities and transportation.
Partners, Sadek Wahba, Gautam Bhandari and Adil Rahmathulla previously worked together at Morgan Stanley. Wahba, who was chief investment officer and global head of Morgan Stanley's infrastructure team, left the bank in late 2011. Bhandari had been a managing director and head of the infrastructure team in Asia, and Rahmathulla was head of investment execution in the Americas for the group.
About two thirds of the I Squared fund will be allocated to North America and Europe, with the rest slated for emerging economies.
The I Squared team totals 27 professionals, nine of whom came from Morgan Stanley's infrastructure arm, including the investment and fundraising group from New York, London and Asia.
Campbell Lutyens & Co. is helping the firm raise the money.
Morgan Stanley's infrastructure investment unit is also planning to seek $4 billion for a second global fund. Morgan Stanley Infrastructure Partners hired Chris Koski as Managing Director for its infrastructure-fund business.
Leading fundraising in the last months is Brookfield Asset Management Inc., based in Toronto, which announced in July that it has raised $6.2 billion for an infrastructure fund, exceeding the $5 billion target.
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