I Squared Capital to acquire Philippine Coastal Storage & Pipeline from Keppel Infrastructure Trust and Metro Pacific Investments in a $460m deal.

I Squared Capital, a private equity firm, agreed to acquire Philippine Coastal Storage & Pipeline, the largest independent import terminal in the Philippines, from private equity firms Keppel Infrastructure Trust and Metro Pacific Investments, in a $460m deal. “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.