I Squared Capital

I Squared Capital is a Miami-based infrastructure investor founded in 2012 with $40 billion in AUM as of August 2024.

The company claims to have an Energy Transition Strategy that “embraces the full breath of clean energy;” however, 79 percent of the 19 energy companies in its portfolio are invested in fossil fuels, as of the end of July 2024.

Six of the companies in the firm’s portfolio operate gas-fired power generators and five companies are midstream oil and gas companies. These types of companies generally have high emissions, though these asset types were not included in the emissions calculations for this report.

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Additionally, in January of 2024 founder, chairman, and managing partner Sadek Wahba wrote an op-ed in Forbes about the outcomes of COP28 and the need for investors to keep investing in traditional energy sources as well as investing in renewable energy. He also claimed that the best outcome of COP28 was “that the oil companies were involved in the discussions instead of being ostracized.” I Squared falls in the middle of the pack with a score of a C on the Private Equity Climate Risks Scorecard.