I Squared Raises $10 Billion So Far for Next Infrastructure Fund

I Squared Capital is close to raising more than $10 billion for its flagship infrastructure fund in just nine months, intensifying a race among money managers for a bigger piece of electric grids, transport networks and data centers.

The firm, founded by former Morgan Stanley executives, will be within roughly two-thirds of its $15 billion target when it completes the initial fundraising round this month, according to an investor letter seen by Bloomberg.