The $15.4 billion Employees’ Retirement System of Hawaii has committed $50 million to ISQ Global Infrastructure Fund II, according to Vijoy Chattergy, chief investment officer.
ISQ Global Infrastructure Fund II launched earlier this year with a $5 billion maximum fundraising target. The fund will focus on brownfield investments in North America, Europe and select high-growth economies.
Through ISQ Global Infrastructure Fund II, the firm recently acquired CK Hutchison Holdings’ fixed-line telecommunications business. Closely held unit Hutchison Global Communications owns the assets included in the transaction.
I Squared’s predecessor fund, ISQ Global Infrastructure Fund, held $3 billion final close in 2015, drawing more than 45 investors including the New Mexico Educational Retirement Board, the Employees Retirement System of Texas and Danish pension administration firm PKA. Hawaii committed $20 million to the predecessor fund in 2015 as well.
In addition, I Squared has established or purchased platforms including Lincoln Clean Energy, its development arm for wind and solar projects in North America; Asia Cube Solar, which invests in ground-mounted and rooftop solar projects; and Cube Hydro, a company that develops and operates small to mid-sized hydroelectric plants.
