I Squared Capital completed the acquisition of 50% stake in Hilippines Coastal Storage & Pipeline Corporation for $296m.

I Squared Capital, a private equity firm, completed the acquisition of 50% stake in Hilippines Coastal Storage & Pipeline Corporation, a petroleum products import storage facility, for $296m. “Philippines Coastal is an essential infrastructure asset playing a critical role in supporting the growing energy needs of the Philippines. With urbanization and the growing consumption of the rising middle class in the Philippines, fuel demand continues to increase steadily. We see strategic opportunities to expand the asset’s capabilities to support this growing domestic demand and to diversify into the storage of bio-fuels and sustainable aviation fuel,” Harsh Agrawal, I Squared Senior Partner.