Stonepeak Infrastructure Partners raises USD1.65 billion for its infrastructure fund
A former unit of Blackstone Group LP, Stonepeak Infrastructure Partners, announced it had raised nearly USD1.65 billion for its very first standalone fund. The said fund would be used to invest in assets such as utilities and energy projects.
The fund, named Stonepeak Infrastructure Fund I, originally was set for USD1 billion but being oversubscribed reached USD1.65 billion. In an emailed statement, the fund identified its investors as TIAA-CREF, pension funds and other institutions located in Asia, Europe and North America. TIAA-CREF provides teachers and non-profit organization retirement accounts.
According to Stonepeak Infrastructure Partners Senior Managing Director Trent Vichie, "Infrastrcuture and other real asets are an increasingly core element of investors' asset allocation plans. We are seeing a strong flow of attractive potential investments and converting this pipeline into a select number of great, lower risk infrastructure investments will be our sole focus for the foreseeable future."
Other investment plans of the company include water, transportation and power assets. According to its website, Stonepeak invests in infrastructure assets located in North America.