I Squared Capital, through its ISQ Global Infrastructure Fund II, has entered into an exclusive strategic partnership with Twenty First Century Utilities (TFC), a privately held development and asset operations firm active in the power and utility sectors in North America, including the United States, Canada, and the West Indies. As part of the transaction, ISQ Global Infrastructure Fund II has acquired TFC’s extensive pipeline of investment opportunities that it will actively pursue in the coming period.

TFC was founded four years ago, with a mission to transform regulated electric utilities with an operating model that drives mass adoption of clean, low-cost energy-producing and saving technologies, while optimizing the power grid to enhance reliability, resiliency, and security. The firm also develops and operates clean energy and technology projects throughout North America.

TFC’s current Managing Partners, Larry M. Kellerman and Peter L. Corsell, will join I Squared Capital as Managing Directors where they will continue to focus on TFC’s pipeline as well as developing new initiatives within the firm. TFC will continue as a standalone company headquartered in Washington, D.C.

White & Case LLP and Gibson, Dunn & Crutcher LLP advised I Squared Capital and Akin Gump Strauss Hauer & Feld LLP advised TFC on this transaction.