I Squared Capital, a leading global infrastructure investment manager, today announced that Gautam Bhandari, co-founder and Managing Partner, has been appointed as I Squared Capital’s Global Chief Investment Officer, responsible for leading the firm’s global investment strategy in close collaboration with founder, Chairman and Managing Partner Sadek Wahba. This new appointment is part of additional changes to its management and governance structure that will build on the firm’s success to further institutionalize I Squared Capital for the coming decade and beyond.
In addition, I Squared Capital has named Mohamed Adel El-Gazzar and Harsh Agrawal as Senior Partners and members of the Executive Committee of the firm. The newly formed Executive Committee will lead the strategic development of the firm.
“These structural enhancements come at an important moment for I Squared,” said Dr. Wahba. “As we reflect on the tremendous success of the past decade, we are taking steps to further institutionalize our firm and ensure that we are well positioned to capitalize on the unique opportunities of the next decade and beyond.”
“As I Squared continues to grow, I look forward to working with the Executive Committee to ensure that new fundraises and investments are calibrated to the firm’s disciplined approach of investing in and building high-quality, world-class businesses for the future,” said Dr. Bhandari. “We believe the demand for infrastructure will continue to grow globally as many capital-intensive sectors of the economy, such as energy, telecommunications, and transportation urgently need to modernize and also address the ever-increasing demand for sustainable infrastructure.”
Dr. Bhandari, co-founder and Managing Partner, has been a member of the Investment Committees of I Squared Capital since inception and he chairs the boards of several I Squared Capital portfolio companies globally. Prior to I Squared Capital, he was a Managing Director at Morgan Stanley where, for over ten years, he worked on infrastructure investments, as well as banking and capital markets. He holds a Ph.D. in Chemistry from the University of Delaware, where he was the University Merit Fellow and recipient of the Joel L. Silver Award for the best doctoral dissertation work, and an MBA in Finance from the Stern School of Business at New York University, where he was an Amerada Hess Merit Scholar.
Furthermore, I Squared Capital has formed an Operating Committee to manage the operations of the firm and to support the continued global growth of the platform. The Operating Committee will consist of the firm’s Partners along with a broader group of senior executives of I Squared Capital. The global platform has grown to over 215 employees, having hired 81 professionals since the start of 2022.
In parallel, Adil Rahmathulla, Managing Partner, will be transitioning from his role at I Squared Capital over the coming year to pursue other opportunities. He will remain on the firm’s Investment Committees ahead of his eventual departure from the firm in June 2024.
Dr. Wahba and Dr. Bhandari stated, “We are extremely grateful to Adil for the vital role he has played in co-founding and growing I Squared Capital. He has been a great partner, and we are pleased he will continue to work closely with us over the coming year. We are confident he will be successful in his future endeavors, and we wish him all the best.”
“It has been a privilege to work alongside Sadek, Gautam and the I Squared Capital team to contribute to the firm’s growth into one of the world’s leading infrastructure investors,” said Mr. Rahmathulla. “I am immensely proud of what we have achieved over the last decade and am excited to watch and support the firm’s continued success. I am grateful to Sadek and Gautam for their partnership and friendship, and I look forward to continuing my journey as an investor and entrepreneur in the years ahead.”
As part of these changes, over twenty senior employees of the firm, in addition to the existing shareholders, will be investing their own capital into the equity ownership of I Squared Capital, further broadening the firm’s shareholder base and strengthening alignment of interests. No financial details will be disclosed.
About I Squared Capital
I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 215 professionals across its offices in Miami, Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 77 companies in 59 countries with over 31,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.