IPI Partners, which is backed by ICONIQ Capital and Iron Point Partners, has closed its second fund at $3.8 billion. Based in Chicago, IPI targets data centers and other tech and connectivity-related real assets.
IPI Partners, LLC (IPI), a global investment platform focused exclusively on data centers and other technology and connectivity-related real assets, today announced the final closing of IPI Partners II, L.P. (IPI II) at $3.8 billion. IPI’s second fund attracted demand well in excess of its target, reflecting strong support from a global institutional investor base. With the closing of IPI II, IPI has raised more than $5.25 billion in total equity capital commitments since its inception. IPI is co-sponsored by ICONIQ Capital, LLC and an affiliate of Iron Point Partners, LLC.
IPI II acquires, develops, leases, and operates data centers and related assets that serve the digital capacity needs of large, high-quality technology companies globally. Over the last four and a half years, IPI has built one of the world’s largest privately held data center portfolios with 480 megawatts leased and capacity for more than 880 megawatts. IPI II began investing in 2020, and most recently closed on the acquisition of SUPERNAP Italia, a Milan-based data center platform.
“Fundraising for IPI II has been a resounding success, and we are extremely grateful that our recent achievements and established market presence have earned the trust and confidence of a wide range of high quality, sophisticated investors,” said Matt A’Hearn, Partner at IPI. “The fund’s close comes at a truly ideal time, aligning with the large and growing opportunity we see at the core of our investment strategy.”
“We are very pleased to see the investment philosophy for IPI be validated over just a few short years,” said Jeff Felder, Managing Director and Head of Real Estate at ICONIQ Capital. “ICONIQ’s real estate platform is centered on investing where technology disruptions make way for scalable opportunities. IPI has quickly differentiated itself as the partner of choice for large-scale technology companies that are facilitating an ongoing global digital transformation. We remain excited to provide strategic capital to the technology sector in support of cloud adoption and our data center customers’ continued growth across global markets.”
Tom Lynch, Managing Partner of Iron Point Partners added, “The overwhelmingly positive reception to IPI II affirms the value of deep sector expertise, an experienced and cohesive team, and long-standing industry relationships. We are proud to serve as IPI’s co-sponsor, alongside ICONIQ, and we look forward to supporting Matt and the entire team at IPI as they execute on this compelling opportunity.”
About IPI Partners (www.ipipartners.com)
IPI Partners, LLC is a global investment platform focused exclusively on data centers and other technology and connectivity-related real assets, with more than $5.25 billion in total equity capital commitments. Since its formation in 2016, IPI has executed on its strategy of building the essential infrastructure of the data economy by acquiring, developing, leasing, and operating data centers in partnership with leading global technology companies. IPI owns one of the world’s largest private data center portfolios focused on the hyperscale and enterprise markets. The firm is co-sponsored by ICONIQ Capital, LLC and an affiliate of Iron Point Partners, LLC. IPI is headquartered in Chicago, with investment professionals located in San Francisco, Amsterdam, and Singapore.
About ICONIQ Capital (www.iconiqcapital.com)
ICONIQ Capital is a privately held investment firm with approximately $54 billion in assets under management that advises and invests on behalf of some of the world’s most influential families and organizations. Differentiated by an exceptional ecosystem of entrepreneurs backing entrepreneurs, ICONIQ’s investment platform drives transformation at the intersection of technology and traditional industries. ICONIQ Capital is dedicated to improving the world by channeling ideas, talent, and capital to initiatives that advance society.
About Iron Point Partners (www.ironpointpartners.com)
Iron Point Partners is a private equity firm targeting investments in real estate and other real assets throughout North America and Europe. Since inception, Iron Point has raised approximately $8 billion in equity capital commitments across Iron Point sponsored and co-sponsored funds. Iron Point pursues a thematic investment approach across numerous commercial real estate property types and specialty asset classes. Prior to forming Iron Point in 2007, the founding principals of Iron Point managed real estate investment vehicles on behalf of the Robert M. Bass family office.