Stonepeak Infrastructure Fund I was oversubscribed and exceeded its original target of $1 billion. Fund commitments were obtained from several large pension funds, insurance companies and other institutional investors from North America, Europe and Asia.
Stonepeak Infrastructure Partners invests in North American middle-market infrastructure. The firm targets investments in energy, power, renewables, water, transport and utilities.
The firm has already made four Fund I investments. Stonepeak was founded by Michael Dorrell and Trent Vichie and is headquartered in New York (www.stonepeakpartners.com).
First Avenue served as the sole global placement agent for the fund. First Avenue has offices in London, New York, San Francisco and Cleveland (www.firstavenue.com).
“We would like to congratulate Mike, Trent and the entire Stonepeak team on their successful fundraise in what continues to be a challenging market. Investors were attracted to Stonepeak’s focus and experience in North American middle market infrastructure, compelling initial investments and a strong pipeline of opportunities. We wish them continued success,” said Jim McCarvill, Co-Managing Partner of First Avenue.
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-14-13