Infra PE fund research profile
I Squared Capital is an independent global infrastructure investor using a platform-building model across power and utilities, transport, digital infrastructure, environmental infrastructure and related services. Its India activity is infrastructure-led rather than generalist buyout investing.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
I Squared Capital (India) uses a infra pe approach across Power and utilities, roads, digital infrastructure.
Current evidence
I Squared Capital’s 2026 public investment materials identify Cube Grid, an India power-transmission platform, and describe an intention to deploy up to US$1 billion of equity capital. Public sources also identify Cube Highways and Road Holdco as India-related infrastructure platforms and show the manager’s current global investment holdings across energy transition, digital and social infrastructure. India-only fund terms and returns remain not publicly disclosed.
Strategy
Infra PE
Sector focus
Power and utilities, roads, digital infrastructure
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
I Squared Capital’s 2026 public investment materials identify Cube Grid, an India power-transmission platform, and describe an intention to deploy up to US$1 billion of equity capital. Public sources also identify Cube Highways and Road Holdco as India-related infrastructure platforms and show the manager’s current global investment holdings across energy transition, digital and social infrastructure. India-only fund terms and returns remain not publicly disclosed.
Investor questions
I Squared Capital (India) is covered in Rupeia's private equity research universe. The current public record describes the strategy as Infra PE, with a sector focus of Power and utilities, roads, digital infrastructure. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to I Squared Capital (India) in the reviewed public sources: Cube Highways (landmark roads platform), Amplus (exit to Petronas). It does not represent a complete current portfolio unless the manager has published one.
I Squared announced Cube Grid in India with an intention to deploy up to $1 billion of equity capital into power-transmission assets. Public materials reviewed do not disclose an India vehicle-level IRR, DPI or TVPI. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: The manager reports approximately $60 billion of assets and more than 100 portfolio companies globally as of May 2026. India-specific fund size is not separately disclosed.. Public terms or access information: Public disclosures point to control-oriented platform investments, acquisitions and project financings in infrastructure. Vehicle-specific entry size, leverage and reserve policies are not consistently public.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Gautam Bhandari. Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: India vehicle-level fund terms and performance remain not publicly disclosed; the record is scoped to attributable India infrastructure platforms rather than the global I Squared portfolio..
2026-08-06: I Squared Capital’s 2026 public investment materials identify Cube Grid, an India power-transmission platform, and describe an intention to deploy up to US$1 billion of equity capital. Public sources also identify Cube Highways and Road Holdco as India-related infrastructure platforms and show the manager’s current global investment holdings across energy transition, digital and social infrastructure. India-only fund terms and returns remain not publicly disclosed.
Next step
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