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Nuveen nears $2.5B fund target as KKR moves to Milan and I Squared funds AI data centres

Infrastructure Investor •
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New York‑based Nuveen is racing to fill its Energy & Power Infrastructure Credit Fund II, now within striking distance of the $2.5 billion fundraising goal this quarter. Senior managing director Don Dimitrievich told investors the fund’s debt pipeline is fed by strong demand for renewable‑linked assets and grid upgrades. Rapid deployment positions Nuveen to capture rising infra‑debt yields before capital dries up.

KKR’s infrastructure arm shifted its European headquarters from London to Milan, citing a more favourable regulatory climate and closer proximity to Italy’s booming renewable projects. The move follows a broader trend of private‑equity firms gravitating toward Southern Europe, where governments are streamlining permits for wind and solar farms. KKR hopes the Milan base will accelerate deal flow and investor access.

Data‑centre specialist I Squared announced a $225 million equity injection into a portfolio of U.S. facilities, expanding capacity to meet surging demand from AI workloads. The funding, sourced from a mix of sovereign wealth funds and private lenders, will finance new racks and power upgrades in key markets such as Northern Virginia and Dallas. The deal underscores the accelerating capital rush into AI‑driven infrastructure.