iCON Infrastructure’s $1.9 Billion Fundraising

Fried Frank acted as counsel to iCON Infrastructure on the raising of their latest flagship infrastructure fund.

iCON Infrastructure Partners V announced its first and final closing at US$1.9 billion.

iCON V’s single close at US$1.9 billion comes just three and a half months after commencing fundraising and reflects strong support for iCON’s investment strategy and recognition of the firm’s strong track record.

iCON V is approximately 50% larger than its predecessor fund, the €1.2 billion iCON Infrastructure Partners IV. The capital raising exceeded iCON V’s US$1.8 billion target, courtesy of strong support from both existing and new investors.

The investors comprise a diversified group of 65 leading pension funds, asset managers, sovereign wealth funds and insurance companies from Europe, North America, the Middle East and Asia.

iCON is an independent investment group, focusing on privately held investments in infrastructure assets in Europe and North America.

iCON V will continue iCON Infrastructure’s successful strategy of investing in mid-sized infrastructure businesses located in Europe and North America. Through its four previous funds, iCON Infrastructure has invested in a diversified portfolio of 27 infrastructure businesses, across a range of essential infrastructure sectors including water, waste, transportation and energy generation, distribution and storage, with a successful track record of realisations.

The Fried Frank team was led by corporate partner Kate Downey (Picture).

Involved fees earner: Kate Downey – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: iCon infrastructure;