Northleaf Capital Partners has reached the $2.6bn hard cap for its latest infrastructure vehicle, Northleaf Infrastructure Capital Partners IV (NICP IV), marking the largest infrastructure fundraise in the firm’s history.

The fund exceeded its original $2.25bn target, reflecting strong investor appetite for Northleaf’s mid-market, control-based investment strategy. NICP IV attracted commitments from over 70 institutional investors across 14 countries and has already completed five investments, including Shared Tower and Provident Energy Management.

“Our successful fundraising reflects the depth of support from our investors and validates our cycle-tested approach to infrastructure value creation,” said Stuart Waugh, Managing Partner at Northleaf.

Led by Jamie Storrow and Jared Waldron, Northleaf’s infrastructure team focuses on contracted, mid-market assets in North America. The strategy is centred on de-risking and growth through hands-on value creation, with each asset supported by long-term contracted revenues.

Jessica Kennedy, Managing Director at Northleaf, added that the early deployment activity underscores the firm’s ability to source proprietary, off-market deals through long-standing industry relationships.

NICP IV’s close follows strong momentum across Northleaf’s global platform. Recent activity includes the exit of Mula Solar Farm, the acquisition of an equity stake in CCM Hockey, and the final close of its third global private credit fund.

With over $28bn raised to date across private equity, credit, and infrastructure, Northleaf continues to expand its international footprint, with a 275-person team across offices in Toronto, New York, London, Tokyo, and other major financial centres.