Office address: 600 Brickell Avenue Penthouse Miami, FL
Website: www.isquaredcapital.com
Year established: 2012
Company type: investment management firm
Employees: 280+
Expertise: global infrastructure investment management, project development, asset management, platform building, financing, operational improvements, risk management, energy, utilities, transportation, logistics, digital infrastructure, environmental, water, waste management, telecommunications
Parent company: N/A
Key people: Sadek Wahba (chair), Gautam Bhandari (managing partner), Harsh Agrawal, Mohamed El Gazzar (senior partners), Kunal Agarwal and Ashish Agarwal (managing directors), Maurizio Arbulu (principal)
Financing status: corporation
I Squared Capital is a private equity firm focused on global infrastructure investments, managing over $40 billion in assets across various sectors. The firm operates from nine offices worldwide, with over 280 employees, and has invested in 86 companies across 70+ countries, delivering essential services to millions. They combine their local knowledge with their global presence, focusing on mid-market and large-scale institutions with strong growth potential.
I Squared Capital was founded in New Delhi 2012 by Dr. Sadek Wahba, Gautam Bhandari, and Adil Rahmathulla to focus on infrastructure investments globally. The firm expanded into Asia in 2014, investing in hydroelectric power through its portfolio companies. In 2015, I Squared acquired a 220-mile pipeline system in New Mexico and purchased Viridian, an Irish energy provider, for nearly EUR1 billion.
By 2016, they had secured Duke Energy's Latin American assets and bought Hutchison Telecommunications' fixed-line business in Hong Kong. In 2020, I Squared sold its stake in Chenya Energy, a solar firm in Taiwan, to Marubeni Corporation. The firm further expanded by acquiring UK transport company Arriva in 2023, with the deal completed in June 2024.
The firm offers a range of infrastructure investment services across sectors including energy, utilities, transport and logistics, digital infrastructure, environmental, and social infrastructure. I Squared Capital’s key strategies include:
I Squared’s platform approach helps companies grow from small beginnings to significant market players, fostering collaboration and substantial value creation.
I Squared Capital thrives on a culture of innovation, where team members are encouraged to tackle complex challenges and continuously create value. The staff works collaboratively across projects, discovering new ways to drive success while building trust. Their environment emphasizes thoughtful and intentional problem-solving, creating a space where professionals grow and excel:
The company incorporates sustainability into its investment strategy, focusing on long-term value creation through responsible ESG practices. Their approach prioritizes reducing risk while promoting positive impacts across their portfolio. Sustainability is central to I Squared Capital’s business strategy, guiding decisions and fostering resilient, future-proof assets:
I Squared Capital aims to combine global reach with local expertise to create innovative, practical solutions that address today’s challenges. They are committed to transforming infrastructure by solving complex problems and generating lasting value. Their mission is to build sustainable infrastructure that endures for future generations, valuing every idea and contribution from their diverse team.
Dr. Sadek Wahba serves as chair and managing partner of the organization and a member of the Council on Foreign Relations and President’s NAIC. Before founding the firm, he held roles as managing director at Morgan Stanley, associate at Lehman Brothers, and economist at The World Bank. Wahba holds a PhD from Harvard, an MSc from LSE, and a BA from The American University in Cairo.
The leadership team at I Squared Capital is composed of experienced professionals who drive the company’s global investment strategies:
I Squared Capital recently expanded its portfolio by acquiring Priority Power Management, an energy services provider operating across 40 US states. This acquisition strengthens Priority Power’s ability to offer private transmission and distribution assets, reducing energy costs and promoting sustainability. Through its Global Infrastructure Fund III, I Squared demonstrates its commitment to improving US power infrastructure and fostering growth in the energy sector.
I Squared appointed Guillaume Pepy, former CEO of SNCF, as a senior policy advisor in October 2024 to support their transportation and logistics investments. Pepy’s expertise in European regulations and transportation will help I Squared expand investments while addressing challenges like decarbonization and aging infrastructure. This appointment aligns with I Squared Capital’s focus on innovation and sustainability, aiming to build future-ready transportation systems.
