Exclusives

Gisele Everett’s departure comes alongside other senior members of the team, amid a restructuring by new infra head Michael Hill.

Cabanes has departed alongside fellow director Deepak Malhotra, months after CDPQ India managing director Saurabh Agarwal also left.

Of the seven staff Plenary poached from AMP Capital to run its funds management arm in 2021, four have now left, including CEO and partner Julie-Anne Mizzi.

With a vote set for early 2024, Macquarie will have a five-year window to sell the fund’s assets, should it be approved.

The launch of the new vehicle comes after I Squared closed its maiden infrastructure debt fund in June on about $750m.

The Swiss manager is poised to return to market for its Direct Infrastructure series after raising $6.4bn for its predecessor in February 2022.

Global Infrastructure Partners V, which is targeting $25bn, is also thought to have between $5bn and $7bn in soft commitments still to come.

Lawrence has been replaced internally by James Bryce, who previously led the portfolio value creation group at the Canadian pension.

The pivot to a dedicated energy transition fund will see I Squared target slightly lower returns than that of its flagship vehicle.

The move comes after the $17bn close of KKR’s fourth flagship last March, which still has close to $10bn of uncalled commitments.