I Squared Capital raised a total of $7 billion for its latest global infrastructure fund at closing.
ISQ Global Infrastructure Fund II, which initially sought $5 billion, attracted capital commitments from more than 100 institutional investors.
I Squared Managing Partner Sadek Wahba said the fund is already 24% deployed with the firm's midstream portfolio companies in the U.S., as well as in other investments in Europe, Canada, Hong Kong and Latin America.
The global infrastructure private equity firm focuses on the energy, utilities, telecommunications and transport sectors in the Americas, Europe and Asia.
Gibson Dunn & Crutcher LLP was the fund counsel, while Evercore was the placement agent for the fundraising.