I Squared Capital Appoints Philippe Lenoble and Bogdan Ciobotaru as Managing Directors

March 07, 2025 at 10:32 AM EST

I Squared Capital, a leading independent global infrastructure investment firm, today announced two senior appointments to its investment and asset management teams in London.

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Philippe Lenoble, Managing Director, I Squared (Photo: Business Wire)

Philippe Lenoble will join the investment team as Managing Director, reporting to Mohamed El Gazzar, Senior Partner. Bogdan Ciobotaru will join the asset management team as Managing Director reporting to Maxime Jacqz, Managing Director, who leads asset management in Europe.

The demands for new and improved infrastructure requires investors to balance the increasing opportunities with the right resourcing to manage the increased scale and complexity. I Squared is committed to expanding its investment and asset management capabilities in a thoughtful and deliberate way to seize this opportunity and deliver value for its partners across the globe. Europe continues to be an important market for us and Philippe and Bogdan’s experience, and expertise will support our ambitions for the region during this pivotal period for infrastructure.

Philippe brings nearly 30 years of investment industry experience from across the infrastructure sector. He is well known to the I Squared team having worked with us in one way or another for the last 15 years, most recently as an Operating Advisor and member of the Board of Directors of Arriva. Philippe previously spent 16 years at Goldman Sachs where he was a Managing Director of the GS Infrastructure Funds. He has also held leadership roles at the Canadian pension fund, CDPQ, and Australian pension fund, AustralianSuper.

Bogdan brings 25 years of experience across investment banking, private equity and asset management in the infrastructure, telecoms and financial services sectors, initially at Morgan Stanley and subsequently at Renaissance Capital. Like Philippe, Bogdan also joined I Squared as an Operating Director but quickly demonstrated his value as Chair of Ezee Fiber and on the boards of Exa Infrastructure, Cube Cold and, most recently, Arriva.

“Philippe and Bogdan have quickly proven themselves to be valuable partners to our investment teams and thoughtful and impactful contributors to our portfolio companies,” said Mohamed El Gazzar, Senior Partner, I Squared Capital. “These appointments reflect our commitment to strengthening our investment team as we seek to capitalize on the opportunity set we see and our pursuit of high-quality infrastructure opportunities globally.”

These appointments follow that of Ben Harper as Managing Director, Head of Sustainability earlier this week and reflect I Squared’s continued efforts to strengthen its investment and value creation capabilities.

Philippe holds a master’s degree in engineering and finance from Université Catholique de Louvain (Belgium) and the CFA designation. He is an active member of the investment community and serves on the Board of CFA UK, the professional body representing approximately 12,000 investment professionals in the UK.

Bogdan holds a bachelor’s degree from the Academy of Economic Studies in Romania and an MBA from Oxford University.

About I Squared Capital

I Squared is a leading independent global infrastructure investor with over $40 billion in assets under management. We are known for the development of investment platforms in infrastructure projects where we start small and grow big. We use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future to provide essential services to millions of people around the world. We are a team of over 280 people, headquartered in Miami with offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. We operate a diverse portfolio of 89 companies in more than 70 countries with over 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure. You can find out more by visiting: www.isquaredcapital.com.