iCON Infrastructure has held a first and final closing of its new €1.2 billion ($1.37 billion) fund, iCON Infrastructure Partners IV, exceeding its €1.0 billion ($1.14 billion) fundraising target.
iCON IV’s single close at its €1.2 billion ($1.37 billion) hard cap comes just three months after commencing fundraising and reflects strong support for iCON’s investment strategy and recognition of the firm’s track record of outperformance and value creation.
iCON IV will continue iCON Infrastructure's strategy of investing in mid-sized infrastructure assets in core infrastructure sectors in both Europe and North America.
Through its three previous funds, iCON Infrastructure has acquired a diversified portfolio of 17 different companies, across a number of infrastructure sectors including water, transportation and energy generation, distribution and storage.
The capital for iCON IV was raised from a diversified group of 47 leading pension funds, asset managers, sovereign wealth funds and insurance companies from Europe, North America, the Middle East and Asia.
As a result of the fundraising, “iCON is well positioned to take advantage of the significant number of opportunities for investment that we are seeing in our niche in mid-market infrastructure businesses across Europe and North America,” said Paul Malan, senior partner of iCON Infrastructure.