UAE – Mubasher: I Squared Capital, a leading independent global infrastructure investment manager, has raised more than $600 million from Mubadala Investment Company, Qatar Investment Authority (QIA), and other investors for Transportation Equipment Network (TEN).

TEN is North America's second-largest full-service trailer lessor, managing a fleet of over 83,000 trailers across key logistics hubs, according to a press release.

Gautam Bhandari, Chief Investment Officer and Managing Partner at I Squared, commented: “This transaction is a win for TEN, for our investors and for I Squared’s global transportation franchise.”

Giovanni Oddo, Head of Americas – Traditional Infrastructure at Mubadala, said: “I Squared Capital and other leading investors to further enable the growth of TEN's capabilities and market reach, creating one of the largest trailer leasing platforms in North America."

Mohammed Al-Sowaidi, Chief Investment Officer for Americas at QIA, remarked: “This investment is part of QIA’s strategy to invest in, and partner with, the leading companies in critical sectors such as supply chain networks, logistics, and warehouses globally.”

Recently, TEN merged with TIP Canada, the North American branch of TIP Group, which I Squared acquired in August 2018.

Rebranded as TEN earlier this year, I Squared initiated the expansion of its trailer-leasing platform in March 2021 with the acquisition of Star Leasing.

In May 2024, Mubadala unveiled investment in the Asia Pacific renewable energy platform owned by investment firm PAG.