iCON Infrastructure Partners III

iCON Infrastructure Partners III is a closed-end infrastructure investment fund focused on long-term, equity investments in mid-market infrastructure businesses in Europe and North America. The limited partnership is advised by London-based iCON Infrastructure LLP, an independent infrastructure investment firm that specialises in privately held infrastructure assets. The fund reached a single close at its €800 million hard cap, with total commitments of over €800 million from a diversified group of institutional investors from Europe, North America, the Middle East and Asia. The fund targets core and core-plus infrastructure across transport, energy, social and health, water and waste sectors. Its strategy is to acquire and actively manage controlling or significant minority stakes in infrastructure platforms that operate in regulated or long-term contractually defined environments and generate stable cash flows. Within the energy value chain, iCON Infrastructure Partners III is the vehicle through which iCON acquired Capstone Infrastructure Corporation for approximately C$480 million via subsidiary Irving Infrastructure Corp. Capstone is an independent power producer headquartered in Toronto that owns, operates and develops thermal and renewable generation assets in Canada and holds utilities investments in Europe, giving the fund direct exposure to regulated utilities and renewable power generation. Through this and similar transactions, iCON Infrastructure Partners III builds a diversified portfolio of utility, energy and transportation businesses aligned with iCON’s broader approach of partnering with established management teams and enhancing operational and financial performance over the long term. The fund forms part of iCON’s series of infrastructure vehicles that collectively manage a broad portfolio of assets across transportation, utilities, telecommunications, energy and environmental services, and social infrastructure in Europe and North America.