Firm News

I Squared Wins Eight Infrastructure Investor Awards

  • Firm recognized as Global Fund Manager of the Year, Mid-Market Investor of the Year, Innovator of the Year among other awards
  • Gautam Bhandari, Chief Investment Officer, recognized as Personality of the Year

MIAMI–(BUSINESS WIRE)- I Squared Capital, a leading independent global infrastructure investment manager, today announced the firm had won eight Infrastructure Investor Annual Awards. This includes global awards for Fund Manager of the Year, Mid-Market Investor of the Year, and Innovator of the Year. Gautam Bhandari, I Squared’s Chief Investment Officer and Managing Partner, won Personality of the Year. 

 Sadek Wahba, Chairman & Founding Partner, I Squared said: “I am pleased that I Squared’s world-class capabilities and industry expertise are being recognized on this global stage. I would like to thank our partners and investors for their votes and continued support.”

Wahba added: “I Squared has expanded and evolved at a rapid pace in the last 12 months. These awards highlight our differentiated market position and our ability to innovate in the space. I am incredibly proud of the team’s efforts and take great pleasure in congratulating Gautam for winning Personality of the Year Award.”

Gautam Bhandari, Chief Investment Officer and Managing Partner, added: “These awards represent the best of I Squared and demonstrate our unyielding commitment to our investors. Our strategy to institutionalize the firm ensures I Squared continues to grow in a smart and sustainable way as we take our expanded product suite to the market. We are very grateful for the recognition.”

As for 2024, it has been a very busy start to the year. Last month, the firm announced ten new hires as part of a significant upgrade to the firm’s sales and distribution capabilities and the firm launched a new brand identity and website. 

Sadek Wahba concluded: “I Squared now has over 260 employees operating across seven offices with one mission: to constantly redefine the investment landscape by harnessing the power of our culturally diverse team to foster an environment where every idea is valued, every detail matters, and every team member contributes to our success. These awards are a testament to that mission and to the efforts of the I Squared team.” 

The full list of I Squared’s Awards are as follows: 


Gautam Bandari – The I Squared founding partner became its global CIO, in a year of change that saw three of Bhandari’s initiatives – its infratech, growth markets, and credit funds – reach a final close on a combined $2.7 billion.


I Squared’s its $1.8 billion Growth Markets Fund close is a standout for an OECD-fixated asset class. But I Squared also closed its debut $750m credit fund and $150 million infratech offering, another less usual highlight. There’s also the mega Whistler Pipeline deal, and plenty of platform action, including Cube Highways’ Bombay listing and HEXA Renewables’ Malaysian greenfield initiative.


I Squared closed its landmark $1.8 billion ISQ Growth Markets Infrastructure Fund, focused on smaller deals in emerging markets. The firm deployed over $2 billion to create or buy new platforms, including environmental services platform Enva, in the UK and Ireland; distributed energy firm RPower; Australian heavy-duty transport equipment rental company Rentco; Filipino distributed renewables firm Berde Renewables; and EM smart meters company Polaris.


Betting on a substantial increase in the adoption of technology in various infra sectors, I Squared closed one of the asset class’s first InfraTech(TM) funds in June, raising $150 million for it. Launched in 2021, the fund will invest between $5 million and $30 million in growth-stage companies that “serve or disrupt infrastructure technology” in traditional sectors such as power, transport, telecoms and social infrastructure.


I Squared acquired a controlling interest in the Whistler Pipeline, a 450-mile pipeline transporting natural gas from the Waha area in the Permian Basin to Agua Dulce in Texas, with opportunities to grow through the demand for LNG. I Squared also invested in the Texas-based RPower, which provides an array of energy services such as resiliency-as-a-service to microgrid, to design-build-transfer contracts and to energy management services.  


While not a strategy exclusively focused on the Asia-Pacific region, I Squared Capital’s inaugural $1.8 billion Growth Markets Infrastructure Fund will primarily target investments in the region, alongside other markets in Latin America. A significant amount of capital from the fund has been deployed in Asia to date, including in Indian roads platform Cube Highways, Taiwan elderly care investment firm Formera Senior Care, Indian gas distributor AG&P City Gas, and data centre platform BDx II. The firm secured a commitment from the Asian Infrastructure Investment Bank, among others.


Cube Highways (I Squared Capital) – Cube Highways, the largest highway sector Infrastructure Investment Trust in India sponsored by ISQ Global Infrastructure Fund I and II, was listed by I Squared Capital on the Bombay Stock Exchange in April 2023. The listing raised approximately $630 million and saw investors including British Columbia Investment Management Corporation and Mubadala Investment Company buy into the public trust, which owns and operates a portfolio of 18 roads across India.


I Squared Capital completed the public listing of Cube Highways, its Indian toll roads platform, this year. The platform was structured as an Infrastructure Investment Trust and was the largest such InvIT focused on highways in India. The listing generated around $630 million and was backed by multiple institutional investors, securing a strong return of I Squared’s Global Infrastructure Fund I and II. The firm has signed agreements to acquire more Indian roads under Fund III, too.

About I Squared

I Squared is a leading independent global infrastructure investment manager with over $38 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 260 professionals across its offices in London, New Delhi, São Paulo, Singapore, Sydney and Taipei. I Squared Capital has invested in a diverse portfolio of 82 companies with over 66,000 employees in 71 countries across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world. You can find out more by visiting:



I Squared Capital
Dominic McMullan
+1 (786) 794 2861