Intertrust a leading global provider of high-value trust, corporate and fund services, announces that its funds services business, has assisted iCON Infrastructure (“iCON”) with the first and final closing of its new €1.2 billion fund, iCON Infrastructure Partners IV LP (“iCON IV”).

iCON is an independent investment group, focussing 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, including iCON IV.

iCON IV’s single close came just three months after commencing fundraising and was significantly oversubscribed, having received considerable demand above the initial $1 billion target, and closed at its hard cap of €1.2 billion.

The Intertrust team was led by Guernsey-based funds director Kees Jager, who commented:

“Intertrust is delighted to have been appointed as the preferred administration service provider for the iCON IV 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 IV 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.”