I Squared Capital is approaching $10bn in commitments for its next flagship infrastructure fund, highlighting strong investor appetite for infrastructure investments. 

The firm expects to reach roughly two-thirds of its $15bn fundraising target once the initial round closes later this month. The milestone comes less than nine months after the vehicle launched.

The fundraising reflects growing institutional demand for infrastructure assets such as electricity grids, transport networks, and data centres. Private equity investors have increasingly stepped in to finance critical infrastructure as governments seek to modernise ageing systems.

Industry momentum remains strong. Private infrastructure funds raised a record $208bn globally in 2025, more than double the amount collected two years earlier, according to figures cited in the report.

I Squared told investors it is approaching more than $17bn in total capital raised across several strategies. These include funds focused on emerging markets infrastructure and private credit opportunities. The firm has already begun deploying capital from its flagship vehicle. Investments include toll road infrastructure in India and a tyre recycling business in North America.

In parallel, I Squared has secured about $2bn for a strategy targeting infrastructure in developing regions against a $3bn goal. It is also nearing $2.5bn for a credit strategy, exceeding its original $1.5bn fundraising target.

The rapid progress underscores the growing role of private equity firms in financing global infrastructure as demand for energy, transport, and digital connectivity continues to rise.

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