Northleaf Capital Partners Closes $2.6B Infrastructure Fund
Northleaf Capital Partners has closed its largest infrastructure fund to date, Northleaf Infrastructure Capital Partners IV (NICP IV), at its hard cap of $2.6 billion in commitments, exceeding its $2.25 billion target. This marks a significant increase from its predecessor, Northleaf Infrastructure Capital Partners III, which raised $1.4 billion in 2021.
The fundraise follows the January 2025 promotion of Jared Waldron to co-lead Northleaf’s $7.5 billion infrastructure investment program alongside Jamie Storrow. Together, they oversee investment origination, execution, asset management, team leadership, and business development for the infrastructure strategy, established in 2010.
NICP IV attracted over 70 institutional investors from 14 countries, including a $200 million commitment from the New York State Common Retirement Fund in 2023. The fund has already completed five investments since 2023, including Shared Tower and Provident Energy Management, focusing on control investments in contracted middle-market assets, primarily in North America.
Recent milestones for the Toronto-based firm include the exit of Mula Solar Farm, the acquisition of an equity stake in CCM Hockey, and the final close of Northleaf’s third private credit fund.
