Fundraising - APRIL 29, 2015

iCON launches infrastructure fund

by Andrea Waitrovich

iCON Infrastructure has launched a third fund, iCON Infrastructure Partners III, which aims to raise €791.92 million ($884.6 million), according to a filing with the SEC.

iCON Infrastructure is an independent investment firm focused on investments in core infrastructure across Europe and North America.

iCON-advised funds currently have in excess of €1 billion ($1.12 billion) under management following the closing of iCON Infrastructure Partners II in early 2013. Investments owned by iCON Infrastructure’s funds include interests in The Porterbrook Partnership, Mountaineer Gas Co., CLH, Beckton Energy and Verbrugge Terminals.

In March, iCON Infrastructure entered into an agreement to acquire 100 percent of Firmus Energy from Bord Gáis Éireann, the Irish state-owned energy company. The transaction forms part of the wider acquisition of Bord Gáis Energy by a consortium comprising iCON Infrastructure Partners II, Centrica PLC and Brookfield Renewable Energy Partners.

The fund also enteredinto an agreement to acquire 100 percent of Fortum Fjernvarme AS and related holdings from Fortum Oyj, a Finnish energy company. The transaction forms part of the wider sale announced today by Fortum of its Norwegian electricity distribution and heating businesses.

And Helius completed the sale of its 50 percent interest in Helius CoRDe Ltd. to Leo Energy Ltd., a company wholly owned by iCON Infrastructure Partners II. The price agreed for the acquisition is £12.3 million ($18 million).


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