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Infrastructure

iCON Infrastructure

iCON Infrastructure invests in long-life infrastructure and essential assets, from London, United Kingdom. It states a focus on energy & utilities, media & communications and transportation & logistics.

Disclosed holdings
Most recent fund2025filing since 2015
HeadquartersLondon, United Kingdom
Stated fund size$12 billion capital managed; Fund VII $3.7 billion (2025)

Stated investment criteria

What iCON Infrastructure says it buys

Read from iCON Infrastructure’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.

Founded20112
OfficesLondon, New York, Paris, Berlin2
People listed on its team page311

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 iCON Infrastructure to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What iCON Infrastructure has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed13
Total capital raisedNot disclosed in filings
Largest single vehicleNot disclosed in filings
Filing history2015 to 2025
Smallest accepted commitmentNone stated
Filed fromGUERNSEY

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Regulatory record

How iCON Infrastructure is registered

Registered with the SEC as an investment adviser, and incorporated in the United Kingdom.

Adviser statusExempt reporting adviser
Regulatory assets under managementNot reported by an ERA
Private funds advised14 · $7.7bn gross
SEC adviser numberCRD 167850
Companies House number14175111
Incorporated2022-06-15
Register statusActive
Officers on the register2

An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.

Recorded transactions

Buying and selling

Deals in which iCON Infrastructure is named as buyer or seller in the transaction archive. 1 recorded acquisition.

CompanySideCounterpartyYearConsideration
Choice CareBoughtCaledonia Investments2018$235m

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 Energy & Utilities

What companies have actually sold for in energy & utilities, across 584 recorded transactions.

Median consideration$180m
Middle 50%$45m-$420m
Revenue multiple1.4×
EBITDA multiple7.1×

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Comparable investors

Similar mandates

Other infrastructure investors active in energy & utilities.