Canada-based private markets investment firm Northleaf Capital Partners has held the final closing on its latest infrastructure fund, Northleaf Infrastructure Capital Partners IV ( NICP IV ), surpassing its target of US$2.25 billion and hitting the fund’s hard cap of US$2.6 billion.

The fund is the investment firm’s largest infrastructure vehicle to date, underscoring, it says, the growth and consistent performance of its mid-market platform. Northleaf’s infrastructure programme, led by Jamie Storrow and Jared Waldron, is supported by more than 70 institutional investors across 14 countries and has completed 37 investments to date.

The company’s infrastructure strategy focuses on control investments in contracted mid-market assets in targeted sub-sectors, primarily in North America, and employs an active approach to value creation and drives returns through business plan initiatives designed to grow or de-risk each investment.

“Having begun investing in 2023, NICP IV has already completed five investments, including Shared Tower and Provident Energy Management, which are consistent with our approach of acquiring high-quality investments with long-term contracted revenues,” points out Jessica Kennedy, the company’s managing director. “Our early portfolio activity reflects our differentiated sourcing model – a leveraging long-standing relationships to access proprietary, off-market opportunities – and our proven ability to drive value creation from the very beginning of the asset lifecycle.”