An award-winning, independent
infrastructure investment firm

iCON is an award-winning, independent investment firm advising funds with $8 billion of capital

We focus on making long term equity investments in private, mid-market, infrastructure businesses located in Europe and North America. 

iCON’s affiliated funds have successfully invested in a diversified portfolio of 48 businesses spanning a range of infrastructure sectors including Transport, Utilities, Telecoms, Energy & Environment and Social Infrastructure. 

Investors in iCON’s funds comprise blue-chip institutions across Europe, North America, the Middle East and Asia. 

Our latest fund, iCON Infrastructure Partners VI, secured commitments of $3.6 billion in June 2022 following a short, three month fund raising.  

Our statistics

Capital raised in excess of



Our latest fund





Portfolio companies


PRI signatory since


Realised investments



iCON is an independent business, wholly owned by its executives. iCON was founded in 2011 following a spin-out from Deutsche Bank where the team was initially formed in 2004. The founding team members all work within the business today. 

Our culture, strategy discipline and top-quartile return performance have been consistent across six flagship funds that have been raised over the past 13 years. 

Today, our team is comprised of over 75 professionals across four offices: London (our headquarters), New York, Toronto and Berlin. 

Our success to date is founded on our commitment to a culture where the best talent can thrive in an environment of strategy discipline and execution excellence. Continued adherence to our principles promises to guide us to more shared success in the years to come

Paul Malan, Senior Partner

Our Culture

iCON’s vision, social purpose and culture have stood the test of time, remaining the same throughout our history. 

We believe that our distinctive culture is critical to the firm and its ongoing success, and is based upon iCON being a meritocratic, open, respectful, enjoyable and rewarding environment for our people. 


iCON’s vision is to be the pre-eminent mid-market infrastructure investment firm over the long term in our chosen markets, currently Europe and North America. 

Social Purpose

The social purpose of our investment activities is: 

  1. to provide superior investment returns to the funds’ institutional investors which assists them in securing positive outcomes for their ultimate beneficiaries, which include pensioners and insurance clients;  
  1. to support the provision of high-quality essential infrastructure services in a responsible manner to the communities which depend on them; and 
  1. to provide development opportunities and personal fulfilment to employees across iCON and our funds’ investments. 
Ownership Mentality
iCON was established as an independent firm and continues to be wholly owned by its partners who work within the businessIt is our objective that all of our people both feel and adopt the same ownership mentality and responsibility that has led to iCON’s success to date.

iCON is first and foremost a high-paced, results-driven organisationWe are committed to providing a meritocratic workplace environment where everyone has the opportunity to realise their potential, perform at the highest levels and have a sense of belonging and responsibility to the business as a whole.


We foster a strong, entrepreneurial culture within the firm which reflects our heritageAccordingly, exercising initiative and taking responsibility are strongly encouraged and highly valued.


We aim to create an environment where everyone is genuinely excited and challenged by the opportunity to contribute meaningfully to work that is interesting and worthwhile, alongside colleagues who they respect and with whom they enjoy working.


Every single person at iCON has something valuable to contributeIt is our philosophy that everyone, regardless of status, experience or background, should have a voice on the issues that we face and that all such viewpoints should be appropriately respected.


We want our people to thrive and thus work to create an environment where everyone is welcome and can do their best workWe recognise and champion the value to our business that individuals with different backgrounds, characteristics and perspectives bring to their work and the firm as a whole.


We want everyone to share in the firm’s success and form part of one cohesive team, supporting and encouraging others in the firm to achieve the objectives of all.

Environmental, Social & Governance (ESG)

ESG and sustainability matters form an integral part of our asset allocation and investment processes. We have been a signatory to the Principles for Responsible Investment (PRI) since 2012. 

In 2016, iCON established a Health and Safety (H&S) Committee to provide oversight of H&S issues across the portfolio. The Committee advises and promotes best practices in H&S risk management to all portfolio companies. 

A summary of our ESG philosophy and approach is below.

Recent Awards

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