Fair Value Measurement and Disclosures (Tables) - ISQ Open Infrastructure Company LLC - Series II [Member]

6 Months Ended

Jun. 30, 2026

Fair Value Measurement and Disclosures [Line Items]

Schedule of Investments and Derivatives Intruments in the Fair Value Hierarchy

The following table summarizes the valuation of Series II’s investments and derivatives instruments in the fair value hierarchy levels as of June 30, 2026:

Description		Level I				Level II				Level III				Total
Investments and derivative instruments at fair value
Equity Investments		$	-			$	-			$	312,005,843			$	312,005,843
Debt Investments			-				-				19,890,343				19,890,343
Derivative Liabilities			-				(24,605	)			-				(24,605	)
Total Investments and derivative instruments at fair value		$	-			$	(24,605	)		$	331,896,186			$	331,871,581

The following table summarizes the valuation of Series II’s investments in the fair value hierarchy levels as of December 31, 2025:

Description		Level I				Level II				Level III				Total
Investments at fair value
Equity Investments		$	-			$	-			$	167,053,547			$	167,053,547
Debt Investments			-				-				16,126,398				16,126,398
Total Investments at fair value		$	-			$	-			$	183,179,945			$	183,179,945

Schedule of Quantitative Measures Used to Determine the Fair Values

The following table provides a reconciliation of the beginning and ending balances for investments that use Level III inputs for the six months ended June 30, 2026.

Description		Amount
Balance as of December 31, 2025		$	183,179,945
Purchases of investments			142,275,836
Return of capital			(8,151,373	)
Net change in unrealized gain (loss) on investments			14,591,778
Transfers out of Level III			-
Transfers into Level III			-
Balance as of June 30, 2026		$	331,896,186

Schedule of Quantitative Measures Used to Determine the Fair Values

The following table provides quantitative measures used to determine the fair values of Level III assets as of June 30, 2026:

Level III Assets

Fair Value

Valuation
Methodology
& Inputs

Unobservable
Input(s)⁽¹⁾

Weighted
Average⁽²⁾

Range

Impact to
Valuation
from an
Increase in
Input ⁽³⁾

Equity Investments

$

294,005,843

Discounted Cash Flow

Discount Rate

12.9

%

11.5% - 17.3%

Decrease

Discounted Cash Flow

Exit Multiple

8.5

x

5.0x - 16.5x

Increase

Debt Investments

13,819,312

Discounted Cash Flow

Discount Rate

10.3

%

9.5% - 10.8%

Decrease

The following table provides quantitative measures used to determine the fair values of Level III assets as of December 31, 2025:

Level III Assets

Fair Value

Valuation
Methodology
& Inputs

Unobservable
Input(s)⁽¹⁾

Weighted
Average⁽²⁾

Range

Impact to
Valuation
from an
Increase in
Input ⁽³⁾

Equity Investments

$

167,053,547

Discounted Cash Flow

Discount Rate

12.3

%

11.5% - 17.3%

Decrease

Discounted Cash Flow

Exit Multiple

7.4

x

5.0x -15.0x

Increase

Debt Investments

16,126,398

Discounted Cash Flow

Discount Rate

10.4

%

9.0% - 13.0%

Decrease

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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