IPI Partners raises $3.8 billion with a second infrastructure fund Thursday, April 15, 2021
Laxman Pai, Opalesque Asia:
Global investment platform IPI Partners has wrapped up its second flagship private equity fund after securing $3.8 billion from investors, with plans to target data centers and other connectivity-related investments, the firm said.
A press release from the joint venture of ICONIQ Capital and Iron Point Partners pointed out that the fund acquires, develops, leases, and operates data centers.
With the closing of IPI II, IPI has raised more than $5.25 billion in total equity capital commitments since its inception, it said. IPI s second fund attracted demand well over its target, reflecting strong support from a global institutional investor base.
IPI Partners raises $3.8 billion with second infrastructure fund
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IPI Partners, a joint venture of ICONIQ Capital and Iron Point Partners, held a final close of its second infrastructure fund, IPI Partners II, at $3.8 billion, a spokeswoman confirmed.
The fund acquires, develops, leases and operates data centers.
Investors in the fund include the $40 billion Connecticut Retirement Plans & Trust Funds, Hartford; the $24 billion Louisiana Teachers Retirement System, Baton Rouge; the $9.5 billion Rhode Island Employees Retirement System, Providence; and the $27.4 billion New Mexico State Investment Council, Santa Fe; and the $1.4 billion University of Alabama System, Tuscaloosa, Ala.
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