I Squared Capital Partners is due to launch its third global infrastructure fund next quarter, according to three sources close to the process.
The Miami-headquartered manager is preparing to launch ISQ Global Infrastructure Fund III in the second quarter, with a first close scheduled for July or August, the sources added.
The manager registered ISQ Global Fund III GP, LLC on 3 March in Delaware.
According to two of the sources, the specific target of the fund is being finalised, although it is anticipated that it may aim for, or exceed, USD 10bn (EUR 9.1bn). The manager’s previous fund, ISQ Global Infrastructure Fund II, held a final close in September 2018 at USD 7bn – USD 2bn above its target.
The sources close confirmed that the I Squared Capital team is still discussing the possibility of offering limited partners the ability to invest in an emerging markets side vehicle.