I Squared Capital (“I Squared”), a leading independent global infrastructure investor with US $60 billion in assets under management, today announced the opening of its Tokyo office, further strengthening the firm’s presence in one of Asia-Pacific’s most important infrastructure markets.

The expansion reflects I Squared’s long-term conviction in Japan, where significant infrastructure investment needs and the country’s energy and digital transformation are driving demand for private capital and specialist expertise. The new office will strengthen I Squared’s ability to identify, develop and scale investment opportunities across the region, supported by a permanent on-the-ground presence in Tokyo.

“Japan is entering a significant infrastructure investment cycle as it modernizes essential infrastructure, strengthens energy security and builds the digital infrastructure needed for future growth,” said Sadek Wahba, Chairman, founder and Managing Partner of I Squared Capital. “Opening our Tokyo office reflects our conviction in that opportunity and is a natural next step as we continue to scale our global platform.”

I Squared has been active in Japan for over a decade, building relationships with leading Japanese institutions as limited partners and co-investors and investing in the country through its portfolio companies. These include Hexa Renewables, I Squared’s pan-Asian renewable energy platform, which has established a significant battery energy storage system (“BESS”) business in Japan. In Japan’s 2024 Long-Term Decarbonization Capacity Auction, Hexa secured 11 BESS contracts, making it the largest single winner in the auction, foreign or domestic. It subsequently secured a further two contracts in the 2026 round, bringing Hexa Japan’s contracted capacity to approximately 3 GWh, including non-LTDA projects.

“Asia-Pacific continues to be one of the most dynamic infrastructure markets globally, and we expect Japan to become an increasingly important part of our investment activity in the region,” said Gautam Bhandari, co-founder, CIO and Managing Partner at I Squared Capital. “We see significant opportunities across energy, digital and other essential infrastructure sectors. I Squared’s operational expertise and platform building experience are well suited to capture this growth.”

As part of the expansion, Go Suzuki has been appointed as a Principal in Tokyo. He brings more than two decades of experience at leading financial institutions including Global Infrastructure Partners (a part of BlackRock), Macquarie Asset Management and UBS. Mr. Suzuki will work alongside Managing Director Yuko Watanabe Shah, who leads I Squared’s investor relations activities in Japan and has played a central role in building the firm’s relationships with Japanese institutional investors and corporate partners.

The Tokyo office builds on more than a decade of investment by I Squared across Asia-Pacific. Since completing its first regional investment in 2014, the firm has deployed more than US $9 billion across the region and today has 26 portfolio companies operating in 17 Asia-Pacific markets. Across the region, I Squared partners with governments, development finance institutions and leading corporates to develop and operate critical infrastructure. These include a $3 billion platform with the U.S. International Development Finance Corporation (“DFC”) to support energy infrastructure across South and Southeast Asia, as well as partnerships with JOIN in Japan and GS E&C in South Korea.

About I Squared Capital

I Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 115 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, Taipei and Tokyo. Learn more at www.isquaredcapital.com.

Disclosures

This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only. Investing involves risk, loss of principal is possible. Specific investments described herein do not represent all investment decisions made by ISQ. The reader should not assume that investment decisions identified and discussed were or will be profitable. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future.

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