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UK Intertrust, a leading global provider of high-value trust, corporate, private wealth, and fund and capital market services, announces that its funds services business, has assisted iCON Infrastructure LLP (“iCON”) with the first and final closing of its new US$1.9 billion fund, iCON Infrastructure Partners V (“iCON V”).
iCON is an independent investment group focusing on privately held investments in infrastructure assets in Europe and North America. iCON-advised funds currently have in excess of €2.5 billion under management. iCON V’s single close came just three months after commencing fundraising and surpassed its US$1.8 billion target, and closed at US$1.9 billion.
The Intertrust team was led by Guernsey-based funds director Kees Jager, who commented: “We’re delighted to have been appointed as the preferred administration service provider for the iCON V 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 V was launched as a Guernsey domiciled, closed-ended registered scheme, with a corresponding management company, authorised as a POI Licensee by the Guernsey Financial Services Commission.
Rishi Pabari, Head of Investor Relations at iCON, 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.”