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Infrastructure

I Squared Capital

I Squared Capital invests in long-life infrastructure and essential assets, from Miami, United States. It states a focus on software & internet, financial services, energy & utilities and transportation & logistics.

Disclosed holdings
Earliest stated investment
HeadquartersMiami, United States
Stated fund size$60B AUM

Stated investment criteria

What I Squared Capital says it buys

Read from I Squared Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

Transaction typesGrowth1
Founded20121
People listed on its team page112

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by I Squared Capital to consider any particular business, and nothing on this page is represented as being for sale.

Regulatory record

How I Squared Capital is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusSEC registered
Regulatory assets under management$60bn
Employees331
Private funds advised123 · $66bn gross
SEC adviser numberCRD 168339

Recorded transactions

Buying and selling

Deals in which I Squared Capital is named as buyer or seller in the transaction archive. 2 recorded exits, most recently in 2019. 2 recorded acquisitions.

CompanySideCounterpartyYearConsideration
Sociedad Portuaria Regional de BarranquillaBought2021$220m
Atlantic PowerBought2021$961m
Amplus Energy SolutionsSoldPetroliam Nasional Berhad2019$389m
Lincoln Clean Energy LLCSoldØrsted2018$580m

Compiled from a transaction archive of 10,204 recorded deals. Most private transactions are never disclosed, so this is a sample of a firm’s activity rather than a complete record of it.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other infrastructure investors active in software & internet.