ISQ Open Infrastructure Co LLC
Sponsored by I Squared Capital. Operating Company structure focused on infrastructure.
Operating CompanyInfrastructure
- Net assets
- $158.2M
source
Annual report (Form 10-K) · filed 2026-03-31 · period 2025-12-31
fund-level Net Assets headline — Series II Consolidated Statement of Assets and Liabilities - continued, 'Net Asset Value Per Share' table: 'E TE Shares Net Assets $1,344 Shares outstanding 40 ... $33.60 ... F-J Shares Net Assets $89,697,782 Shares outstanding 2,862,789 Net asset value per share $31.33' (all 13 classes; each ties its own net-assets/shares-outstanding line; the 13 class net-assets figures sum exactly to Series II's disclosed $158,158,434 total Net Assets). F-J Shares is canonical: the largest class by net assets (56.7% of the total). Series I (a separate feeder holding only units of Series II, its own $35,591,938 net assets and 9-class NAV table) is excluded -- Series II is the fund's operating-company entity per the fund's own 'wrapper' classification.
“Net Asset Value Per Share E TE Shares Net Assets $ 1,344 Shares outstanding 40 Net asset value per share $ 33.60 ... F-J Shares Net Assets $ 89,697,782 Shares outstanding 2,862,789 Net asset value per share $ 31.33”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2025-12-31 - NAV / share
- $31.33
source
Annual report (Form 10-K) · filed 2026-03-31 · period 2025-12-31
canonical class (F-J Shares) headline, basis: Series II Consolidated Statement of Assets and Liabilities - continued, 'Net Asset Value Per Share' table (direct, not derived; Series II is the operating-company entity, not the Series I feeder) — Series II Consolidated Statement of Assets and Liabilities - continued, 'Net Asset Value Per Share' table: 'E TE Shares Net Assets $1,344 Shares outstanding 40 ... $33.60 ... F-J Shares Net Assets $89,697,782 Shares outstanding 2,862,789 Net asset value per share $31.33' (all 13 classes; each ties its own net-assets/shares-outstanding line; the 13 class net-assets figures sum exactly to Series II's disclosed $158,158,434 total Net Assets). F-J Shares is canonical: the largest class by net assets (56.7% of the total). Series I (a separate feeder holding only units of Series II, its own $35,591,938 net assets and 9-class NAV table) is excluded -- Series II is the fund's operating-company entity per the fund's own 'wrapper' classification.
“Net Asset Value Per Share E TE Shares Net Assets $ 1,344 Shares outstanding 40 Net asset value per share $ 33.60 ... F-J Shares Net Assets $ 89,697,782 Shares outstanding 2,862,789 Net asset value per share $ 31.33”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
F-J Shares (canonical class) · 2025-12-31 - Net flows, last qtr
- Not disclosed
- Distribution coverage (NII)
- Not disclosed coverage not available
- Leverage in use
- Not captured coverage not available
- Total return, 12m
- Insufficient history computed from NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
Credit facility new or amended: 5 occurrence(s), 2025-09-02 to 2026-06-17
Most recent (2026-06-17): LLC”), as the initial primary borrower (the “Borrower”), entered into a revolving credit agreement (the “Agreement”) pursuant to which the lenders thereunder agreed to provide revolving loans up to an aggregate initial principal amount of $60 million subject to customary conditions. The available capacity under the Agreement may be increased up to $180 million, subject to the satisfaction of certain conditions, including approval by the Administrative Agent (as defined below) and the increasing lenders, payment of fees and the satisfaction of certain other customary conditions, provided that t
Why it matters and what changed
Financing terms set the fund's cost of leverage and its dry powder. Amendments also reveal what lenders currently think of the collateral: improving spreads and rising commitments signal lender confidence; shrinking availability or margin increases signal the opposite. This fund logged 5 of these in the covered window; the cadence itself is part of the signal.
5 occurrence(s) of this event type stored; earlier instances are on the Fired Flags tab.
Source: https://www.sec.gov/Archives/edgar/data/2059924/000121390026069622/ea0294689-8k_isq.htm | Item 2.03
On September 2, 2025, ISQ Open Infrastructure Company LLC (the “Company”) entered into a Management Agreement (the “Management Agreement”) with I Squared Capital Registered... (2025-09-02)
On September 2, 2025, ISQ Open Infrastructure Company LLC (the “Company”) entered into a Management Agreement (the “Management Agreement”) with I Squared Capital Registered Advisor LLC (the “Manager”). The Manager is an affiliate of I Squared Capital Advisors (US) LLC (together with its subsidiaries, “I Squared”) and the Company. The foregoing summary description of the Management Agreement does not purport to be complete and is qualified in its entirety by reference to the Management Agreement, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated her
Why it matters and what changed
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: https://www.sec.gov/Archives/edgar/data/2059924/000121390025083415/ea0255106-8k_isqopen.htm | Item 1.01
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
No structured portfolio-health series or position-change events have been captured for this fund.
Where exit demand met the cap.
The disclosed history shows no rationed period.
No structured redemption history has been captured for this fund.
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
No structured financing components have been captured for this fund.
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
D TE Shares 0.0%E Shares 8.0%E TE Shares 0.0%F-D TE Shares 8.1%F-I Shares 4.2%F-I TE Shares 0.8%F-J Shares 56.7%F-J TE Shares 11.5%F-S Shares 8.5%F-S TE Shares 2.0%I TE Shares 0.0%J TE Shares 0.0%S TE Shares 0.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| D TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $3,2122025-12-31 |
| E Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $12,685,3602025-12-31 |
| E TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $1,3442025-12-31 |
| F-D TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $12,878,0012025-12-31 |
| F-I Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $6,660,0492025-12-31 |
| F-I TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $1,319,6882025-12-31 |
| F-J Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $89,697,7822025-12-31 |
| F-J TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $18,158,6802025-12-31 |
| F-S Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $13,513,4602025-12-31 |
| F-S TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $3,231,2992025-12-31 |
| I TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $3,2432025-12-31 |
| J TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $3,1802025-12-31 |
| S TE Shares | Role is not explicit in the captured filed terms. | Not disclosed | Not disclosed | Not disclosed | $3,1362025-12-31 |
Management fee: 1.25% of nav by share class per year. source. Pursuant to the Management Agreement, the Manager is entitled to receive the Management Fee, payable monthly in arrears, in an amount equal to (i) 0.75% per annum for the Founder Shares (Class F-S, Class F-D, Class F-I, Class F-J and their TE variants), increasing to 1.25% per annum after the first 36 months in which the Founder Shares are offered, and (ii) 1.25% per annum for Class S, Class D, Class I and Class J Shares and their TE variants, of the month-end NAV attributable to the Shares. Class E Shares and Class E TE Shares do not bear a Management Fee. The Manager may waive all or a portion of the Management Fee for a particular Shareholder or financial intermediary. First-pass extraction (zero cached filings at prior-pass time); fetched live from the fund's first 10-K.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the Management Agreement, the Manager is entitled to receive the Management Fee, payable monthly in arrears, in an amount equal to (i) 0.75% per annum for the Founder Shares (Class F-S, Class F-D, Class F-I, Class F-J and their TE variants), increasing to 1.25% per annum after the first 36 months in which the Founder Shares are offered, and (ii) 1.25% per annum for Class S, Class D, Class I and Class J Shares and their TE variants, of the month-end NAV attributable to the Shares. Class E Shares and Class E TE Shares do not bear a Management Fee. The Manager may waive all or a portion of the Management Fee for a particular Shareholder or financial intermediary. First-pass extraction (zero cached filings at prior-pass time); fetched live from the fund's first 10-K. | 1.25 pct_annual_of_nav_by_share_class | Date not captured |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-02 | 8-K | 0001213900-26-074954 |
| 2026-06-17 | 8-K | 0001213900-26-069622 |
| 2026-06-02 | 8-K | 0001213900-26-064150 |
| 2026-05-05 | 8-K | 0001213900-26-052182 |
| 2026-04-02 | 8-K | 0001213900-26-039308 |
| 2026-03-31 | 10-K | 0001213900-26-036615 |
| 2026-03-10 | 8-K | 0001213900-26-025277 |
| 2026-02-05 | 8-K | 0001213900-26-012867 |
| 2026-02-05 | 8-K | 0001213900-26-012781 |
| 2026-01-06 | 8-K | 0001213900-26-001582 |
| 2025-12-17 | 8-K | 0001213900-25-122787 |
| 2025-12-05 | 8-K | 0001213900-25-118675 |
| 2025-11-14 | 10-Q | 0001213900-25-110682 |
| 2025-10-03 | 8-K | 0001213900-25-096163 |
| 2025-09-02 | 8-K | 0001213900-25-083415 |