I Squared’s Murray Exits to Launch Infrastructure-Credit Effort
- Venture to be part of Power Corp.’s asset-management platform
- Power Corp. affiliates to provide $1 billion commitment
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Tom Murray left I Squared Capital to form a new high-yield infrastructure credit investment effort within Power Corp. of Canada’s asset-management platform Power Sustainable, according to a person with knowledge of the matter.
Affiliates of Power Corp. have agreed to commit $1 billion to the direct-lending strategy, said the person, requesting anonymity because the information is private. The firm will seek to extend credit to infrastructure companies with a positive environmental, social and governance impact, such as clean-energy producers, the person said. Murray, who was head of credit at I Squared Capital, has a 12-month non-compete agreement with the firm.