Independent investment group iCON Infrastructure has confirmed the first and final closing of its new €1.2 billion Guernsey-domiciled fund.

The closed-ended registered scheme iCON Infrastructure Partners IV LP (iCON IV) focuses, like other iCON funds, on privately-held investments in infrastructure assets in Europe and North America. It closed at its €1.2 billion hard cap just three months after commencing fundraising and was significantly oversubscribed, having received considerable demand about the initial €1 billion target.

iCON-advised funds currently have in excess of €2.5 billion under management, including iCON IV, which was launched with a corresponding management company, authorised as a POI Licensee by the Guernsey Financial Services Commission.

iCON IV's close was assisted by the Guernsey-based funds team at Intertrust – a global provider of high-value trust corporate and funds services.

Intertrust Guernsey Director Kees Jager said: "Intertrust is delighted to have been appointed as the preferred administration service provider for the iCON IV structure, building on the strong and well-established relationship we already have with iCON.

"Our continued involvement with the iCON structures highlights our expertise in the infrastructure sector as well as our capability to provide a high-quality service that enables iCON to continue to implement its highly successful investment strategy."

iCON Head of Investor Relations Rishi Pabari said: "We appointed the Intertrust team to provide a full administration service to our funds as they continue to be able to demonstrate a complete understanding of our infrastructure investment strategy. They provide a highly dedicated team who serve our funds and investors with excellence."

Since 2011, iCON has acquired a diversified portfolio if 17 different companies across a number of infrastructure sectors including water, transportation and energy generation, distribution and storage.

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