Terramont is preparing to launch its second fund with a target of $750 million, according to an exclusive report from Infrastructure Investor. The manager is aiming for a first close before the end of the year on approximately half of the target size. This fundraising effort comes amid a busy period for infrastructure capital allocation, with peers like CIP recently securing a $3 billion final close for its second growth markets renewables strategy.

The market context includes significant developments such as Macquarie's joint venture with Anthropic, Nvidia's exploration of a new asset class, and Igneo Infrastructure Partners outbidding Antin Infrastructure Partners for a waste deal. Additionally, EQT has signaled a willingness to invest fully behind the meter, while IMAS Foundation has expressed caution regarding large infrastructure GPs and US policy volatility. Hesta's head of unlisted assets, Will Mac Aulay, also recently departed.